Also stalls at swing low from April 22nd
The USDJPY has pushed higher in trading today and tested the swing low from April 22 at the 109.25 level (the high reached 109.27).
At the top today, there were two intraday highs which has helped push the pair down to trend line support on the intraday 5-minute chart (see below).
Traders are taking a breather between trend line support and the double top. A move below the trend line (currently at 109.05) and the 100 bar MA on the 5 minute chart (moving toward 109.00 currently) would take more steam out of the rally (more corrective).
