The USDJPY buyers are making a play above the 100/200 hour MA in early US trading. Those MA come in at 139.493 and 139.77. If the buyers are serious, moving away from the MAs would show their commitment.

The USDJPY pair has been trading within a fairly narrow range between 138.73 and 140.92 over the last 10 or so trading days. The pair remains near the high of the move up from May, it is just having difficulty keeping the momentum going as traders fluctuate their feelings to the intraday whims of the market.

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