USD/JPY still stuck in a rut on the week - ConsultFX

USD/JPY still stuck in a rut on the week

Price is playing ping pong between 111.00 and 111.40 ForexLive At the moment, price is testing the 100-hour MA (red line) @ 111.17 once again after failing to break below it in Asian trading earlier. Stay above and near-term bias favours buyers but there doesn't appear to be much conviction to build a move higher. The defense