Forex technical analysis: USDJPY slips back below the 100 day MA

Discussion in 'Technical Analysis' started by ForexLive, Feb 2, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    Were below it earlier today... The USDJPY is slipping below the 100 day MA for the 2nd time today. Earlier, the price fell below the MA line but rebounded higher (the low came in at 120.34). A move below the 38.2% retracement of the move up from Friday's low and the low today at 120.34 opens the door for a look at the 100 hour MA and 50% retracement of the same move higher at the 120.03 area (you can add the 120.00 level in that mix too). The 100 day MA is close resistance now. Traders who are short would truly love to see the break move away from that 100 day MA level now.

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