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USD/JPY rebound stalls ahead of technical resistance at 142.93

The USD/JPY closed last night in the US at 142.40, as it held most of its gains from earlier in the day. However, that daily close was still underneath its 200 day moving average. A further rise earlier today was the dollar reach 142.85, which means it came close to testing that 200 day moving average, in place this morning at 142.93. It looks like offers were in place just ahead of this, or perhaps intraday players decided to exit ahead of the level? The current chart dynamic does not look dismissive of a potential break above this level though. Since peaking at 142.85 earlier it has backed off to 142.44, but it is on the rebound again just now. The session low, at 142.31 was set before the move to 142.85 unfolded. The USD/JPY is currently trading at 142.68
 

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