December 1, 2022

Forex Solution

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USDJPY extends above 100 hour MA. Can it stay above?

1 min read

Trend line on the hourly and 200 hour MA are topside targets

The USDJPY has extended above the 100 hour MA at 107.993 (and the 108.00 level as well). 

Trend line on the hourly and 200 hour MA are topside targets_

The move tilts the bias on the hourly chart in the buyers favor as long as the level can now hold support.  The pair has a topside trendline at 108.16, and the falling 200 hour moving average at 108.317 to get to and through to give buyers more control.  The price of the USDJPY has not traded above its 200 hour moving average since April 6.

Buyers are making a play.

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