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USD/JPY – 10-DMA support stands exposed

OANDA:USDJPY   U.S. Dollar / Japanese Yen
Pair’s retreat from 104.35 (September highs) followed by Friday’s close below 5-DMA and a rejection at 5-DMA in Asia suggests the rally from 100.08 (Sep 27 low) has found a temporary top at 104.35 and prices could extend losses to 10-DMA support around 102.00 today.

Bulls have little to fear so long as the 50-DMA support at 101.71 is intact.

On the higher side, only a break above 104.35 would signal the rally from 100.08 has resumed.
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