Home / Forex Treiding / USDJPY bounces between support and resistance

USDJPY bounces between support and resistance

  • share

Trend lines and MAs define the trading range for the pair. 

The USDJPY is up today but at the highs the pair found sellers against the topside trend line (trend line at 106.57).   Sellers/profit takers leaned. 
 On the downside, the pair fell down to a lower trend line and 100 hour MA at 106.363 area.  That is support. Buyers came back in there. 
So buyers at support. Sellers at resistance.  
Helping of course, is a solid stock market today.  Yeilds are also up a smidge and gold is lower by a little as well (so a little “risk on” )

About SkyNET

Leave a Reply

Your email address will not be published. Required fields are marked *

Яндекс.Метрика >