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Forex technical analysis: USDJPY slowly moved to target and bounced a modest bounce

Discussion in 'Technical Analysis' started by ForexLive, Nov 12, 2015.

  1. ForexLive

    ForexLive Forum Member

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    100 hour MA holds the line for an extreme. Below was support against trend line, 100 hour MA, 38.2% and a lower trend line. The advise paid off as the buyers did show up at the 100 hour MA (blue line in the chart below), but it took time and that led to the MA moving higher to meet the decline. SO the MA came in at 122.833. The low reached 122.844. That was close enough and the price rebounded to a high so far of 123.00.

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