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Fast break the other way in the USDJPY

Discussion in 'Technical Analysis' started by ForexLive, Sep 8, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Back above the 50% at 101.91 turns the bias around. Earlier, I wrote how the price of the USDJPY held the 50% at the highs earlier in the day. That was more bearish. The price had traded above and below the 100 bar MA on the 4-hour chart (blue line in the chart below) but we needed to get below lower targets (and stay below the 100 hour MA (at 101.64). Well, the price could not stay below that MA line. The sellers turned to buyers.

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