USDJPY moves back toward unchanged on the day

<p>The USDJPY traded lower in the US session (see 4-hour chart above), but did find support near the high of a swing area between 144.898 and 145.07. The low price for the day reached 145.10.</p><p>The price has rebounded back toward the close from yesterday at 145.54. Of significance is that the price of the USDJPY has been up for 6 consecutive days. During that time the price has moved up from 141.50 up to a high of 145.859. The closing level should be a barometer for bullish above/bearish below. With a price and trading right around the level, buyers and sellers are currently battling it out for intraday/short-term control.</p><p>Taking a broader look at the daily chart below, the high price today got within 4 or so pips of the high of a swing area going all the way back September through November 2022. During that time there were a number of swing highs and lows between 144.984, and 145.90. </p><p>The low price today got within 12 pips of the low of that swing area. The high price got within 4 pips of the high of that swing area.</p><p>See earlier video on the USDJPY:</p>

This article was written by Greg Michalowski at www.forexlive.com.