Sharp declines are reversed
The USDJPY just moved to a high of 110.84. The price on Friday closes at 110.82 area. New highs for the day, after a fall in the Asian session took the price to the lowest level since June 28th. The low reached 110.10, before the rebound began.
In the move back higher, the price moved above a broken trend line at 110.42. The pair is now getting closer to the 38.2% at 110.883 and the 100 hour MA at 110.91. A trend line that was tested on Friday is also in that area at 110.944 now.. Key levels. The 100 hour MA and the trend line did a good job at putting a lid on the stock market last week.
