Reversal on the break
The USDJPY moved above its 200 hour MA for the 1st time today since March 15th at 111.28. The high extended to 111.538 – short of the highs from last Wednesday at 111.587 – but we have just seen a quick reversal back below the MA line and currently trades at 111.16. The break above is failing.
Forex technical analysis: USDJPY extension above the 200 hour MA is failing
