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Forex technical analysis: USDJPY backs off from highs

Discussion in 'Technical Analysis' started by ForexLive, Nov 16, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Tests trend line and 100 hour MA support The USDJPY fell initially on the flight into the JPY after the terrorist attack in France. That move lower took the pair below trend line support which was then reversed by the time European traders arrived. The push higher has extended above topside trend line and the 100 hour MA which contained the rally on Friday. Technically, that trend line and 100 hour MA break is bullish. Can the levels hold support? The trend line is currently being tested at 122.89. The 100 hour MA is at 122.850.

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