Price action on USD/JPY (a 4-hour chart of which is shown) as of Thursday (9/16/2010) has tentatively stalled after the dramatic bullishness that occurred on Wednesday on the heels of yen intervention. Currently, a consolidation of yesterday’s gains has occurred right around a confluence of two resistance factors. For more technical analysis on this currency pair, please click here for Thursday’s (9/16/2010) Chart of the Day.
James Chen, CTA, CMT
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Nice spot James Chen, please what is the moving average on your chart
Hi Mayowa,
Thanks for visiting this blog. The moving average on that chart (and on most of my charts) is the 50 period SMA. Thanks, Mayowa!
James Chen