| FOREX: Technical Analysis for USDJPY. Looking more bullish into the new week (October 20, 2014)
The USDJPY closed the trading week above the 100 hour MA technical chart resistance level. This was the latest step higher in the pair after bottoming on Wednesday. The move above the 100 hour MA turns the bias more positive and traders will likely use that 100 hour MA as a level to lean against in early trading this week. Stay above, and the buyers will remain in control from a technical perspective. Move below, and the bulls will likely take a step back and reevaluate. In the video report, Greg Michalowski, Director of Technical Analysis and Forex Trading Education for www.forexlive.com, outlines the trade, the risk defining level, and what traders should follow as targets if the buyers do remain in control. The Forex Market is volatile. Technical Analysis helps to define and limit risk for traders. Visit ForexLive for real-time news, analysis and technical analysis of the forex market. SUBSCRIBE FOR FOREX VIDEOS EVERY DAY http://www.youtube.com/channel/UCpuHc… SUBSCRIBE TO OUR EMAIL LIST! LET’S CONNECT! |
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