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Forex technical analysis: USDJPY continues to consolidate

Discussion in 'Technical Analysis' started by ForexLive, Jan 14, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Range can be defined by about 100 pips now The USDJPY has been consolidating since January 6. Range most of the trading since that time has been between 117.18 and 118.81. More recently the topside has been defined by the 200 hour moving average (green line in the chart below). That moving average currently comes in at 118.169. The level also corresponds with the 38.2% retracement of the trend move down from the December 30 high to the January 8 a low.

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