USDJPY Technical Outlook: Buyers push through key resistance as momentum builds ...Middle East

On the downside, buyers stepped in earlier in the US session today ahead of the 200-bar moving average on the 4-hour chart, which now acts as a support level along with the broader swing area near 143.573–143.02.

On the downside, a move back below the 200-hour moving average at 144.124 would be a setback for buyers and undermine the recent bullish breakout. Earlier today, sellers initially defended the area around the 200-hour MA and the 50% retracement, but the eventual break above marked a key shift in momentum, putting buyers back in control. Holding above this zone keeps the upside bias intact.

This article was written by Greg Michalowski at www.forexlive.com.

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