USD/JPY Moves Above 200 Hour Moving Average

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USD/JPY Moves Above 200 Hour Moving Average

By Greg Michalowski on March 30, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The USD/JPY has been largely non -trending. The flatness of the 200 hour MA is a testament to that fact. The moving average has been between 97.04 and 97.23 since March 23rd.

The price moved back above the 200 hour moving average in the last hour (currently at the 97.04 level). This has led to some buying interest in the pair, that saw the price move up to 97.43. Still down on the day, the move higher has nevertheless covered 61.8% of the days range. A break above the high (61.8% retracement) will next target the 100 hour moving average currently at 97.83 and the close from Friday at 97.91. I would expect sellers against this level.

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