Move above MA and 38.2% failing
The EURJPY has been chopping to the upside since bottoming on Tuesday. Today the pairs move higher has seen a lot of green and red bars. A few bars ago, the price moved above the 100 hour MA and the 38.2% retracement level at 132.748. That should have sent the price higher with a test of the 50% and then 200 hour MA at 133.07 and 133.234 respectively.
That was not to be.
The price break failed and we are now seeing the price stay below the technical levels.
Are the choppy buyers turning to sellers?
Close risk for shorts are the two technical tools at 132.75 level. Stay below is more bearish.
