Forex Trading: USD/JPY Tests Key Support And Bounces

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Forex Trading: USD/JPY Tests Key Support And Bounces

By Greg Michalowski on April 8, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The 99.23 level is the 200 hour and 200 day simple moving average (see previous post). When the price dipped to 99.31, the bids came in and covered shorts/bought lows. The price rebounded up to 99.76, the level where the last move down started from. If the price can rebound above the 99.77 level, the lows may be in place.

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