USDJPY tests hour MAs and finds sellers on the look

Technical Analysis

Author: Greg Michalowski | usdjpy

The MA come in at 104.604 to 104.632

The USDJPY moved up to test the hourly MAs (100 and 200 hour MAs) and found sellers on the first look. The 200 hour MA currently comes in at 104.604. The 100 hour MA comes in at 104.632.  The high price just reached 104.617.  

The MA come in at 104.604 to 104.632
Traders leaning against the levels will want to see the price remain below. Move above, and we should see more upside probing.   The 50% retracement of the move down from the October 20 high comes in at 104.88 and above that the 61.8% at 105.083. There was a swing high against that level in trading today.  

On the downside, get below the 104.464 is a victory (low of a swing area).  Below that 104.33 followed by a lower swing area between 104.107 to 104.153.  

For bank trade ideas, check out eFX Plus
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose