USDJPY extends above 200 bar MA on the 4-hour chart ...Middle East

From a technical perspective, the price has now moved above its 200-bar moving average on the 4-hour chart, which comes in at 145.159—a bullish development. The next key upside target is the high from last week at 145.919, a level that previously stalled gains when the pair was testing that same 200-bar MA. Now that the moving average has drifted lower, that resistance stands as a more manageable hurdle—but still a significant one for bulls to clear.

Buyers are making a play. The question now is whether they can sustain momentum and push beyond the key resistance zone. Close risk is now the broken 200 bar moving average at 145.159.

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

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