Does the MA matter?
In September the price of the USDJPY traded above the 200 day MA on 6 separate occasions with zero closes above. The last 7 days saw the price trade above and below the MA level on 6 of the 7 days (yesterday was the exception). There was 4 days with closes above and 2 below. Does the 200 day MA matter? Well, on the surface, no. After all, the market does not seem to pay much attention to it on the daily chart.