USDJPY tests the low of a swing area at 146.547 ...Middle East

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USDJPY tests the low of a swing area at 146.547

The USDJPY is pressing lower, testing the bottom of a key swing area between 146.55 and 146.83. This zone has been defined by multiple swing lows dating back to early August (see red numbered circles), making it a pivotal support region.

A break below 146.55 would open the door for a move toward last week’s low near 146.30, followed by the August low at 146.206. Just beneath that sits the rising 100-day moving average at 146.14, further reinforcing the significance of this support cluster. Holding above keeps buyers in the game, but a decisive break would tilt control toward the sellers.

    This article was written by Greg Michalowski at investinglive.com.

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