USD/JPY edges off earlier session high

Earlier today the USD/JPY managed to build slightly on what was a close above 149 on Friday, at 149.13. The high seen earlier this morning was set at 149.39, but it has backed away from that high a bit right now. The low seen prior to that session high was set at 148.98. There has been no trading in the Nikkei 225 today to guide the USD/JPY price action, due to the market closure there. The close on Friday, at 149.13 was right on a former Fibonacci level and that might be of interest again as the day unfolds. On the topside, beyond the important 150 level, there is not that much to note this side of the 100 and 200 day moving averages (in place right now at 151.13 and 151.22) and it is worth noting; the 100 day has now crossed below the 200 day. Price elasticity and volatility is pretty low right now, but that might change. Overall the USD/JPY looks highly dependent on the next piece of risk based news, when and if that emerges. It is currently trading at 149.20