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Forex technical analysis: USDJPY works back lower

Discussion in 'Technical Analysis' started by ForexLive, Jul 14, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Retracing earlier gains The USDJPY surged higher in trading today and in the process moved above the 200 bar MA on the 4 hour chart (currently at 104.81 - green line in the chart below). The pair also moved above the 50% of the move down from the May 30 high to the Brexit low. That level comes in at 105.23. The low corrective price has tested that 50% a couple times in the London session since breaking - including just a minute or so ago.

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