| The 100/200 hour MA is now resistance again at 139.70 The USDJPY moved lower after the initial jobless claims moved to new 20-month highs. The data, pushed the USDJPY back below its near converged 100/200 hour moving averages at 139.70. Those moving averages are not risk-defining levels for sellers looking for more downside momentum. The price needs to stay below to keep the sellers more in control in the short term. |
You Might Also Like
USDCAD finds support against the downside moving average target and bounces
2023-05-31
USDCAD moved lower and tested the 200 hour MA target on the downside. Buyers stalled the fall. The price moved back higher.
That move to the upside took the price back to the 100 hour MA where sellers are now leaning.
So buyers against the 200 hour MA below. Sellers are leaning against the 100 hour MA. Traders will be looking for the next shove outside that area for the next bias clues.
USDCAD sellers tried to extend below 50% but finds buyers
2023-05-30
The USDCAD sellers tried to extend below the 50% of the move down from the March high on the 4-hour chart today, but could not keep the momentum lower. The price has moved back above that level, and the buyers are more in control. Can they stay above the midpoint level at 1.35808?
S&P index retests its 100 week moving average and backs off. Nasdaq above 100 week MA.
2023-05-26
Both the S&P and the Nasdaq broad indices are trading around the 100 week moving average as the week works toward the close. The S&P is just below the level near 4200. The Nasdaq is above the MA at 12902.78 currently.
Can both close above those key 100 week MAs this week and tilt the bias more to the upside?
USDJPY buyers in control. Watch to understand why and what would hurt that bias today
2023-05-24
The buyers are holding support on the hourly and daily chart with work to do. What would keep that bias in the favor of the USDJPY? What are the targets and why? Learn about it by watching this video on the USDJPY.
USDJPY buyers make a play again. Can the buyers keep the control?
2023-05-22
Witness the USDJPY buyers in action as Fed’s Bullard adopts a more hawkish stance, driving the price higher. In this captivating video, explore the swing areas on both the 4-hour and daily charts that indicate buyer strength. Keep an eye on the key resistance level at 138.74, which marks the high from last week. If the buyers manage to stay above the swing area support, their target becomes the 50% Fibonacci retracement level from the 2022 high to 2023 low, set at 139.574. Join us to analyze these crucial support and target levels and uncover how the buyers aim to maintain control in the market.
Tags: Featured,newsletter
