Forex technical analysis: USDJPY at support area

Discussion in 'Technical Analysis' started by ForexLive, May 12, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Tests cluster of support... The USDJPY moved away from the 200 bar MA on the 4-hour chart at the 61.8% retracement level at the high. The pair is testing the cluster of support against the 100 bar MA on the 4-hour, the 50% of the move down from pre-BOJ and the swing lows/highs going back to April 28th (see yellow area). This is interim support ahead of the 100 hour MA below which is at 108.39.

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