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USDJPY tests next target at upward sloping trend line...

Discussion in 'Technical Analysis' started by ForexLive, Mar 30, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Marching away from 100 hour MA The USDJPY is down testing trend line support. That level comes in at 112.72 currently. IN the process, the sellers are moving further away from the 100 hour MA (blue line). The 38.2% and 200 hour MA will be targeted on a break. There is some slowing against the trend line as dip buyers search for a counter trend bounce, but on a break, I would expect stops being triggered.

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