The USDJPY has had an up and down day (or down, up, down day). The last move has taken the price down to the 200 hour MA (green line in the chart above) at the 80.53.  If it can stay above this level, the next up move may start.  On the topside, the 100 hour MA (blue line in chart above) beckons at the…

GBPUSD

The GBPUSD is undecided on whether it wants to move above the 200 hour MA at the 1.6069 or move below the 1.6044 level where the 38.2% retracement line is found and where the highs from June 24th and June 28th are found.  The bulls have the upper hand as the correction of the move higher today has been limited.  Therefore if the price cannot extend below the 1.6044 level, the bulls and shorts should push the price through upside resistance.

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