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Forex technical analysis: USDJPY looks to test intraday resistance

Discussion in 'Technical Analysis' started by ForexLive, Jul 6, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Watching 200 hour MA/50% of the day's trading range. Looking at the five minute chart below, the price of the USDJPY has had runs above the 100 bar MA (blue line in the chart below), but has not had much luck on any meaningful break above the 200 bar moving average (green bar in the chart below). Since late Monday, there has only been a few bars where the price has close above the 200 bar moving average.

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