Home Forex Trading USDJPY reaches the 200 hour MA/50% – ForexLive

USDJPY reaches the 200 hour MA/50% – ForexLive

1 min read
0
3

The 38.2% held support on the intraday correction

The USDJPY got close to the 200 hour MA/50% retracement earlier in the day, but backed of. The modest correction took the pair back toward the broken 38.2% at 105.458 and found buyers. The move back to the upside reached 105.822. The 200 hour MA is at 105.836. The 50% is at 105.853.  Sellers leaned.  

The 38.2% held support on the intraday correction

We currently trade at 105.67- not quite between the 38.2% and 50%/200 hour MA, but off each.  The combination of the 50% and 200 hour MA tend to be a tough nut to crack.  They both represent a key technical level for bias. Being together increases the levels importance.  So far, the traders are respecting the combination (with stops likely on a break above).  

For bank trade ideas, check out eFX Plus

Let’s block ads! (Why?)


Source link

Comments are closed.

Check Also

India's Foreign Exchange Reserves Surge By $758 Million To Reach Record High Of $586.082 Billion – Swarajya

India’s foreign exchange reserves jumped up by around $758 million during the week ending …