December 9, 2022

Forex Solution

Learn To Trade Forex

USDJPY bounces near the 100 hour MA/100 day MA

1 min read

Down and up day so far with pair trading between 100 hour and 200 hour MA

The USDJPY moved down into the European/London morning session and in the process retested its 100 hour moving average (lower blue line currently at 109.61).  The  100 hour moving average is starting to tilt more to the upside.  

Down and up day so far with pair trading between 100 hour and 200 hour MA

The 100 day moving averages near that level at 109.632.

The price has rebounded toward swing high levels from the New York session yesterday at 109.825.  Get back above that level will have traders looking toward the 200 hour moving average and 50% retracement at 109.95.

For the week, the pair opened near the 100 day MA. It trade the first half the week below that moving average line bottoming on Monday and Tuesday at 109.108.  On Wednesday the price moved above the 100 day moving average and spent most of the time above that moving average line.  The hi was reached on Thursday after breaking above its 200 hour moving average, but lower stock prices in the Asian and European session sent the pair back to the downside. 

Invest in yourself. See our forex education hub.




Source link

Copyright © All rights reserved. | Newsphere by AF themes.