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Forex technical analysis: USDJPY moves below month long range

Discussion in 'Technical Analysis' started by ForexLive, Dec 9, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Dollar falling The USDJPY has broken below the 200 bar moving average on the 4-hour chart (green line in the chart below), and also below the swing lows that defined the lower floor for the USDJPY since November 6th. The 100 and 200 day moving averages (overlaid on the chart below) come in at 121.69 at 121.569, respectively. We trade between the broken levels above and the target levels below, but you have to give the advantage to the the sellers

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