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Greg Michalowski

USD/JPY Approaches 100 Day Moving Average Resistance

By Greg Michalowski on May 21, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

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The USDJPY has broken higher is choppy trading and moved toward the 100 day moving average.  The current level comes in at the 95.35 level today.  I would expect that intraday traders will look to take some profits against stops above the level.   Overall, the market remains choppy today.  It seems shorter term intraday traders are in charge after yesterdays trend like trading day.

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