USDJPY meanwhile pushes toward the target support at 87.11/13
Written November 25, 2009 at 2:40 PM EST by Greg Michalowski
The USDJPY moved to its new lows for the day at 87.21. The low from the day has come in at 87.21. There have been some buyers against the low. Stops are likely on break below.The momentum to the downside has been helped by the ability to hold successfully test the 100 bar MA on the 5 minute chart. There was a one bar break above when the price printed 87.67 vs the MA at 87.64 but this was firmly rejected the next bar.
Categories: Forex Trading | Tags: USD/JPY
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