USDJPY stays below 100 hour MA today

[Christine]

The USDJPY opened below the 100 hour MA, tested it in the London session and wandered lower.
In the last* hour, the price extended to new lows but found support buyers against the*channel support line. That level comes in at 80.30
Resistance now comes in at 80.56 (see chart below)

http://www.forexlive.com/wp-content/uploads/2012/04/FXDD-WINDOW-0625-330x243.jpg (http://www.forexlive.com/wp-content/uploads/2012/04/FXDD-WINDOW-0625.jpg)*
A break lower will next target the 80.093 level which is the 50% of the move up from the Feb 1 low (see chart below).
http://www.forexlive.com/wp-content/uploads/2012/04/FXDD-WINDOW-0626-330x241.jpg (http://www.forexlive.com/wp-content/uploads/2012/04/FXDD-WINDOW-0626.jpg)
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