USDJPY Corrects Back Up To The 100 Bar Moving Average; Now What?

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USDJPY Corrects Back Up To The 100 Bar Moving Average; Now What?

By Greg Michalowski on May 1, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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As per the previous post, the USDJPY corrected up to the 100 bar moving average (SEE PREVIOUS POST) and started to move back down. One of two things can happen.now. One, a new low through the 200 bar line is made (green line) , or two, we move back above 100 bar (blue line) and the short trade is covered (give it to 99.37). Not a time to be emotional. It is simply the pattern that develops from time to time. Either it does what it is supposed to do, or it does not.

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