Above 100 and 200 hour MAs
The USDJPY has followed the dollar higher in trading today. The pair has consolidated around the 100 and 200 hour MAs (at 113.44 and 113.52 respectively), and is trying to get above the 50% retracement of the move down from last week’s high. That level comes in at 113.78. The 200 bar MA on the 4-hour chart comes in at 113.901 and is another target on the topside.
Forex technical analysis: USDJPY tests 50% of last week’s move lower
