Nasdaq turns positive on the day. USDJPY tests 200 hour MA

Technical Analysis

Author: Greg Michalowski | nasdaq

CNBC pushes Apple

The traders on the CNBC Halftime report, made a big push on Apple from a valuation basis and shares of Apple moved from about $165 to positive on the day at 169.36, up $0.87.  The Nasdaq also moved higher moving from around 6920 to 6990 currently.  The index is up about 20 points or 0.28%. The price at the lows today moved below the closing level from 2017 at 6903.38. The low for the day reached 6878.98.

As the stocks recovers, the USDJPY has moved to new highs and in the process is moving above its 200 hour MA and 50% retracement at 113.13.  The pair will next target a topside trend line at 113.276.  The high last Wednesday reached 113.23.  A move above that would look toward the 113.34 level. That is the 61.8% of the move down from the November 28th low. 

Earlier today, the USDJPY retested the 100 day MA at the day's lows. That low came in at 112.23. The high just reached 113.20, nearly 100 pips from the session low. 

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