In the launch video, I talked about USDJPY’s inability to break above the ceiling zone between 151.91 and 151.96. The price decline continued early in the New York session as risk aversion pushed the price lower.
In the process, the next targets of the 100-hour moving average of 151.647 and the 200-hour moving average of 151.562 were tested. The 100-day moving average was broken, but supportive buyers ran into the lower 200-hour moving average.
The current price is back above the 100 hourly moving average. It would now take a return below this level and the 200 hour moving average to increase a bearish bias.
Sellers try their luck. The first, stuck on the support. Can they maintain momentum and push below target levels, or is that all?
cnbctv18-forexlive
