100 day MA and 50% retracement
We tested the same targets yesterday at the days lows and bounced. The pair is looking again at both the 100 day MA and the 50% of the move up from the April 2015 low to the June 2015 high at the 133.51-56 area (the 100 hour MA is at 133.51. Key technical target. Decision time for traders. Head lower or bounce. The USDJPY is also testing its 100 day MA at 121.02 currently coincidentally (see prior post). The crowds are gathering in the JPY pairs as risk can be defined and limited.
