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USDJPY holds the 200 hour MA for the 3rd time in 6 days

The 200 hour MA has been a magnet for the USDJPY over the last 6 trading days, but once reached, the price has seen a push away. That MA (green line in the chart above), was tested last Friday and bounced. It was tested on Wednesday this week and bounced. Today the price got within 5 or so pips of the MA, and once again bounced.

That is 3 tests in 6 days and 3 bounces.

If you go back to February 10, after a failed break below the 200 hour MA, that same MA based the pair before... Read More

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Posted: Mar 3 2023, 16:09

Author Name: forexlive

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