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USDJPY tracks toward 100 hour MA after failure on break of 200 hour MA earlier today.

Today, the USDJPY traded higher into the European session and in doing so, moved above the 200 hour MA (green line). The one break above that MA line last week failed quickly. Yesterday, the price moved up to test the MA again and backed off.

So the break above today was significant. However, momentum cannot be sustained and early NY session the price fell back below the moving average line. The price of the USDJPY has been edging down since that failure.

The low for the day re... Read More

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Usdjpy

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Earlier

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Posted: Dec 7 2022, 20:30

Author Name: forexlive

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