Key Technical Levels
has failed to close below the 89.00 price level since 12/11/09 which makes it a significant support level. Although we are seeing current momentum push the pair below support, bearish conviction could slow following the sharp move earlier in the day. Often we see a period of consolidation at such levels as traders content with gains, debate whether market conditions warrant a break below.
The USDJPY has a Bollinger band width of 295 which is one of the lowest of the most active pairs. Combined with an ATR of 93 pips the pair becomes an attractive target for scalpers. However, recent volatility isn’t reflected in the indicators which are a product of the pair trading in a 300 pip range for the majority of the year.
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How To Use Scalping Report Video
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