The USD/JPY is at a key resistance on the 4 hour chart

The Dollar tried to rally versus the Yen for today, but it stays in a consolidation mode and it is undecided at the moment around the 107.00 level. A little bit above the 107.00 level we can see the 55 and 200 Exponential Moving Averages on the 4 hour chart, which have contributed to turn this zone into a good resistance area for the pair. It is probable to see a bounce to the downside from this zone and if this happens we could see a cross of the 55 EMA below the 200 EMA with longer term bearish implications for the pair. However, in order to see this scenario develop, the fundamentals would have to support the Yen and risk aversion should rise in the markets.