Forex technical analysis: USDJPY hanging near day highs

Discussion in 'Technical Analysis' started by ForexLive, Nov 30, 2015.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Leaning against the underside of a broken trend line... The USDJPY got a rocket boost when the price today moved above the 200 hour moving average (green line in the chart below). That break , has helped the price move right up to the underside of an old broken trend line (see blue circles).. The first 3 points on that trend line formed the line. The last 3 (4, 5 and 6) have provided a ceiling that traders have leaned against to define and limit risk (including today's highs).

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