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Forex technical analysisL USDJPY breaking below support target

Discussion in 'Technical Analysis' started by ForexLive, Oct 7, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Below 100 hour MA and trend line support The USDJPY is breaking to new lows for the day. The move has taken the price below the 100 hour MA (blue line ) and trend line support at the 103.00 area. Being a nice round number as well, it adds to some selling pressure. Traders should use the area as a risk defining level now. Stay below keeps the pressure on the pair.

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