The 100 hour MA tested at 143.45. The 200 hour MA at 143.28
USDJPY tests the 100 hour MA
The USDJPY has moved down to retest its 100 hour moving average at 143.45. The low just reached 143.47 and bounced back up to 143.57 currently. The 100 hour moving average is also on a rising trend line on the hourly chart.
Buyers are leaning against the levels with likely stops below the level and below the lower 200 hour moving average. That moving average currently comes in at 143.28.
Moving below those levels would tilt the bias back to the downside. So far buyers are holding support and buying the dip
Trading analysis offered by Flex EA. Source #Unknown
# GBPUSD tests 61.8% and swing area The GBPUSD is in an up and down day. The GBPUSD moved higher earlier. That move was helped by better than expected retail sales. However the high price today stalled near the high price from last week near 1.3643, and rotated back lower on the USD buying. The subsequent move lower now has the price back toward the 61.8% retracement along with a swing area between 1.35969 and 1.36034. As I type, the price has dipped below that swing area. What next? If the price can stay below the 1.36034 area, that would be the best case scenario for the sellers with the next major targets coming in at the 100 hour moving average 1.3569 (blue line), and the 200 hour moving average at 1.35609 (green line). The 50% midpoint of the 2022 trading range is just below those levels at 1.35526 and would be a another target on further weakness. A move back above 1.36034 with momentum would have traders looking again toward 1.3618 to 1.36271 and then t...
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