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USDJPY races up to the next swing area target.

USDJPY races up to the next swing area target.

The USDJPY moved higher on Monday and into Tuesday. A new high was reached on Wednesday at 137.965. That took the price above a swing area between 137.485 and 137.856 (see red numbered circles). The break failed however, and after the US CPI came in weaker than expectations, the price tumbled to a low of 134.65 on Wednesday and a lower low at 134.492 on Thursday (double bottom).

After trading above and below the 200 day moving average currently at 135.46 after the FOMC rate decision y... Read More

Posted: Dec 15 2022, 16:17
Author Name: forexlive
Views: 110239

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