Forex technical analysis: USDJPY extends higher.

Discussion in 'Technical Analysis' started by ForexLive, Sep 29, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
    Likes Received:
    Moves above averages The USDJPY as extended to new session highs in the process is breaking above moving average resistance defined by the 100 bar moving average on the 4-hour chart and the 200 bar moving average of 4- hour chart (see blue and green lines in the chart below). Those moving averages come in at 101.56 and 101.58 respectively. They are now support/a risk defining level for the longs - stay above and the buyers remain in control. The next target on the four hour chart is topside trend line at the 102.00 level (see chart below).

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