Technical Analysis


Getting more comfortable above 200 bar MA on 4-hour chart

The USDJPY continues the trend higher.  The price corrections have been modest. The price is also moving above the 200 bar MA on the 4-hour chart. That MA comes in at 107.67. Stay above is close risk for intraday longs. 

As outlined in an early post, the pair is trading in a channel on the 5-minute chart. The low channel line comes in at 107.64 currently (and rising).  The 38.2%-50% of the last trend leg higher comes in at 107.50-559.  The rising 100 bar MA is at 107.527. 

In a trend move, the trailing 100 bar MA and the “correction zone” (38.2%-50% retracement of the last trend leg higher) is a way to gauge the trend move.  A move below that area (and 100 bar MA) muddies the water.   Putting it another way, the buyers and sellers have reached an equilibrium area after trending.  

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