USDJPY: Support between 101.60/20 to be tested, watch the 200DMA
- After failing to break above the cloud has moved lower.
- Confluence of support between 09/13 high (100.60), 200DMA currently @ 100.24) and uptrend line from 06/13 (Currently rising from 100.20).
- If all this is passed then I would be looking for support @ the 100.00 handle which is psychologically key for Japan.
- Any convergence of the 200DMA and the 100.00 handle would be interesting. If they converged and the handle was tested a low risk strategy would be to buy.
- Confluence of support between 09/13 high (100.60), 200DMA currently @ 100.24) and uptrend line from 06/13 (Currently rising from 100.20).
- If all this is passed then I would be looking for support @ the 100.00 handle which is psychologically key for Japan.
- Any convergence of the 200DMA and the 100.00 handle would be interesting. If they converged and the handle was tested a low risk strategy would be to buy.
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