USDJPY finds a bottom after a persistent selling. ...Middle East

As of now, the price is trading near 146.52, suggesting that dip buyers have stepped in to defend the zone. The reaction so far signals that the downside momentum has at least paused—at least for the time being.

Going forward, a move back below the 100 bar moving average and below the 146.288 level would have traders looking toward the 50% midpoint along with the low of the swing area near 145.92.

Selling abates, but sellers made some progress in the wrestling back control. Can they keep the control?

This article was written by Greg Michalowski at investinglive.com.

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