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Forex technical analysis: The USDJPY ending the week with a nice channel. What's up for...

Discussion in 'Technical Analysis' started by ForexLive, Nov 13, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Retail sales could not push the price outside the channel for long Before the retail sales, the market was setting up for a move outside the channel that has been forming this week. Seconds after the report, the price extended below the lower extreme and even below the 200 hour MA for an ever so brief moment. That was "break" was not to be, however, and buyers pushed the price back higher. The 100 hour MA above had a similar breach but topside trend line was there to stop that move. The market is settling with the price below the topside resistance from the trend line and 100 hour MA, and above the bottom trend line and 200 hour MA (green line).

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