Forex technical analysis: USDJPY approaches support in the 109.18-22 area
Perhaps being a little cute, but it is a target
The USDJPY has trended lower in trading today. The move has been helped by some pretty good technical holds and breaks. Specifically, I liked the holding of the trend line at the highs yesterday ( see green circle 4). That put the lid on the pair. Then today, the price fell below the 200 day MA (after testing it on Friday and Monday). The price also fell below the lower trend line (blue circles).