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USDJPY rallies up to the 200 hour MA. Sellers lean.

October 2, 2020 by admin 0 Comments

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Buyers and sellers battling it out

The USDJPY moved above a swing area in the 105.167 to 105.257 area and made its way to the next target resistance at the 200 hour MA (green line). That level also reached a floor area that was defined on Wednesday and Thursday near the same area.

See earlier report outlining the levels HERE.

The range on the current hourly bar has a low near the 105.25 level and resistance at the ceiling/200 hour MA. The buyers and sellers are battling it out.

At some point there will be shove outside this battle zone and hopefully there is a momentum move on the break.

This article was originally published by Forexlive.com. Read the original article here.