Technical Analysis

USDJPY backs off after testing 200/100 hour MAs

Value extends larger however MAs do the job at stalling the rise

The USDJPY prolonged larger however did discover sellers leaning towards the 200 and 100 hour MAs (inexperienced and blue strains – See submit right here).  These MA are available in at 108.315 and 108.371 respectively. The excessive reached 108.35 – between the degrees.

As talked about within the earlier submit, the 200 bar MA on the 5-minute chart was damaged. That opened the upside up for extra probing, however as exepcted the MAs stalled the run.  The decrease MAs on the 5 minute chart at 108.17 and 108.15 will now be eyed for assist.  

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