The USDJPY stalled the rally near a swing area earlier today near 147.886. The subsequent fall helped by the tamer US PPI data took the price toward the rising 100 hour MA (blue line at 147.037). The move below that level, opened the door for the lower 200 hour MA at 146.67. The low just reached 146.69.
Getting below that lower MA level (green line), would increase the bearish bias once again.
In the short video, I outline the technical levels in play along with the risks.
This article was written by Greg Michalowski at www.forexlive.com.
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