USDJPY tests next target at upward sloping trend line...

29 March 2016, 22:50
Francis Dogbe
The USDJPY is down testing trend line support. That level comes in at 112.72 currently. IN the process, the sellers are moving further away from the 100 hour MA (blue line). The 38.2% and 200 hour MA will be targeted on a break. There is some slowing against the trend line as dip buyers search for a counter trend bounce, but on a break, I would expect stops being triggered. The thing that may help is stocks are racing higher. The Nasdaq is up 1.54% and the S&P is up 0.78% and trading at the highs.
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