Forex technical analysis: USDJPY hanging near day highs via ForexLive

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Leaning against the underside of a broken trend line... The USDJPY got a rocket boost when the price today moved above the 200 hour moving average (green line in the chart below).  That break , has helped the price move right up to the underside of an old broken trend line (see blue circles)..  The first 3 points on that trend line formed the line. The last 3 (4, 5 and 6) have provided a ceiling that traders have leaned against to define and limit risk (including today's highs). 

posted via ForexLive

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