Forex technical analysis: USDJPY moves to the surface of the trend line and stalls on data




Better quality data but the USDJPY crashes to the level of the trend line resistanceThe Factory orders and the ISM non-manufacturing data were better than expectations, but the big trend of the impasse of the rally at the 114.16 level. The pair turned again towards 114.00.

The data have been good enough to give a boost, but the technique of the trend line got in the way and it vendors were prepared according to the level.
It is Friday and there are only the quadrature possibility. What we do know, however, is that the big trend line is now more solid (with the 4th point). Therefore, a break should solicit stops on a break, with 114.274 (high for the week), the next target on a break. The 114.39-49 is where the swing highs of May, July, and October of the impasse. The key level.
On the other side of the coin, the 200 and 100 hour MAs (green and blue lines) remain a key area below. Nearest support? Intraday maybe the 114.00 level natural. That has been the most low post on 10 AM AND figures.



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