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USDJPY snaps back higher after break of 200 hour MA fails

The USDJPY fell below the 200-hour MA earlier today (see earlier video HERE). That MA is the green line in the chart above. That break was the 1st break below that moving average since June 14. Buyers should have turned to sellers, but momentum could not be sustained. As a result, buyers have turned to sellers and forced the price back toward the higher 100-hour moving average at 144.558 (blue line on the chart above). The price of the USDJPY has reached 144.56 - just a touch above that MA leve... Read More

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Posted: Jul 5 2023, 15:43

Author Name: forexlive

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