USD/JPY hits hard resistance and retreats before noon
Written March 12, 2010 at 11:43 AM EST by Shawn Powell
The USD/JPY hit hard resistance at 91.07 and fell quickly back to trendline support at 90.96. The pair has held the 100 Hour moving average for over a week with only one break below, early in today’s session. The pair has climbed almost 300 pips since March 4th. Support will be found at the 100 Hour MA at 90.30 and then down at the 200 Hour MA (89.74) On the top side if the pair can break 01.07, resistance will be found at 91.87 which is the 200 Day MA on the daily chart.
Categories: Forex Trading |
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