Forex Trading: USDJPY Falls After Failing To Advance Above Resistance Area
The USDJPY moved up and through the 200 hour MA (green line in the chart above) but could not breach the 50% of the move down from the December 28th high to the low. Sellers came in and now the market is down toward the days low at the 77.00 level. I would expect buyers against the low with a move above the 77.15 level being a good development for the pair today.
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