USDJPY bounces off the 200 hour MA

Technical Analysis

Author: Greg Michalowski | usdjpy

Also USDJPY bounces off the March 20 low.

The USDJPY did find support at the next target at the 200 hour MA/low from March 20. The low for the day reached 109.369. The 100 hour MA came in at 109.391.  The swing low from March 20 was at 109.32.  

Also USDJPY bounces off the March 20 low.
Holding the level, increases the levels of importance going forward. Should the price reverse and break, the 100 day moving average at 109.012 will be the next target.

For now the run to the downside did find support where needed to. That keeps the buyers in play for rebound. The battle is on.

ForexLive
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose