100 hour MA at 110.397
The price of the USDJPY has moved back to the low for the day at 110.31. That move lower has been helped by a break back below the 100 hour MA at 110.397 currently.
Putting things into perspective, the range for the USDJPY is 23 pips. That is not much.
As a result, traders will be looking for a move away at some point. The move away comes on a break of the low 110.31, or a move back above the 100 hour moving average and taking out the high for the day near 110.53.
Right now bias is more to the downside once again after the buyers move to the upside failed.