Forex technical analysis: USDJPY higher, but lots of chop

US stocks open higher. Yields are little changed
The USDJPY is higher, but there is a lot of chop in the price action.
Looking at the 5-minute chart, the pair is trading near the day highs.  In the NY session, the price has for the most part, held the 50% of the move down from the high yesterday at 111.319. The 100 bar MA on the 5-minute chart is near that area too.   Below that is an intraday trend line and 200 bar MA.  

Tags: