Technical Analysis

USDJPY tests the underside of the broken trend line. Stalls.

Stalls as trader lean against the risk defining level.

The underside of the broken trend line outlined in an earlier post as a key target (CLICK HERE), seems to have attracted some selling as traders leaned. Risk could be defined and limited against the level.

Going forward, the question for traders is can the price stay below and work it’s way back through the retracement levels at 107.72, 107.183 and 106.646.  They will be tougher. The 38.2% acted as good support AFTER the flash crash.  

What we know, is risk is the old trend line for now.

ForexLive

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