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Forex technical analysis: USDJPY up on day.What else?

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

  1. ForexLive

    ForexLive Forum Member

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    Near middle of the range. The USDJPY has: Yesterday, the pair had the green light to go lower on the break of the 100 and 200 hour MA (see blue and green lines in the chart above) but that move failed. Since then the pair has been moving higher. The move above the trend line is bullish, but for me would put risk at the 113.98 area where the close from yesterday and the high from Feb 26th is found. If it goes higher, the 114.86 and 115.05 become the next upside targets (see chart above).

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