Yen meets the MOB

The USD/JPY has been in a channel soon after the bullish engulfing reversal at the figure. For this to be a long term reversal we will need to see a pullback and a retest of the low for a double bottom or a breather.

Today we have hit the MOB and retraced intra day. Above the MOB is a resistance provided by a previous high and the moving average.

Click here to view the forex analysis chart.

Good trading.

Forex Analysts
Anne Chapman & Javid Shaik