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Dollar does its thing. Where do we stand?

Discussion in 'Technical Analysis' started by ForexLive, Sep 9, 2015.

  1. ForexLive

    ForexLive Forum Member

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    A run down of the majors EURUSD USDJPY For the USDJPY all was progressing nicely. The corrections off the legs higher were shallow. (). The price was tracking above the 100 bar MA on the 5 minute chart along with a trendline support line. However, when the price fell below the 100 bar moving average and the trend line at the 120.90 level (see chart below), buyers took some profit, and sellers looking to make a few bucks on the back of weaker stocks, entered and pushed the pair lower.

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