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USDJPY trades between hourly moving average levels. Await the next shove.

The USDJPY is trading in a fairly narrow up-and-down trading range today. The low to high trading range is 75 pips. The average of the last 22 trading days (around a month of trading), is 117 pips.

Technically looking at the hourly chart below, the price low in the late Asian session approached the rising 200-hour moving average at 139.299 and found willing support buyers. The low price reached 139.307. The USDJPY price had not traded below the 200-hour moving average since May 12.

The subsequent move back to the upside, found willing sellers in the European morning session against its flattening 100-hour moving average currently at 140.07. The high price reached 140.055.
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