Forex technical analysis: USDJPY compresses. Looking for the break via ForexLive

Range narrow. Market unsure...for now The USDJPY is coiling in a narrow trading range today. The pair is trading between the 100 and 200 hour MAs (blue and green lines in the chart below) .  The 100 hour moving average currently comes in at 124.028. While the 200 moving average currently comes in at 123.826.  In addition, there are narrowing topside and lower trend lines. They come in at 124.10 and 123.83 respectively.  The 50% midpoint of the 4-day consolidating range, comes in at 124.042.  The trading range for the day is only 31 pips. The average over the last 22 trading days (about a months worth of trading) is 82 pips

posted via ForexLive