Traders get used to using the 200 bar MA as resistance
The USDJPY has slid off the 200 bar MA on the 5 minute chart once again (as outlined in my recent video).
Earlier, I spoke of TRUSTING the 50% level (and other levels) when the price was at the lows (near the 108.50 area. )
The move high has only been about 42 pips. It took some time, but there has been zero pain.
If you can do that, you will be smiling.
If the correction is to stall, the price needs to get back below the 108.80-84 and then the 100 bar MA at 108.77.
Traders are trading....
