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Forex technical analysis: It whips around, but USDJPY bears in control

Discussion in 'Technical Analysis' started by ForexLive, Feb 10, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Whip and then back down I wrote earlier that the 115.09 closing level from yesterday, would be eyed today () and perhaps the 100 and 200 bar MAs on the 5-minute chart as close risk. Well, the price did move above the 100 and 200 bar MAs (see chart below) and even went above the 115.09 level. Like the move in the London morning session, the time above was brief. This time, it came in the midst of the Yellen testimony where event and liquidity risk help contribute to the "whip".

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