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Moved below 100 hour MA yesterday and 200 hour MA today. Can it stay below?
The EURJPY moved below the 100 hour MA and trend line yesterday. Bearish.
Today, the price fell below the 200 hour MA (green line) at 129.126. Bearish.
The low stalled ahead of the 38.2% target at 128.579 and bounced up to the broken 200 hour MA.
The question for traders now is “Can the price stay below the 200 hour MA now?”
Bears should look to the area to sell.
Buyers… you need a break above.
This article was originally published by Forexlive.com. Read the original article here.