On Sunday in this blog we posted about a solid Pin Bar on the daily chart of the USDJPY. This Pin Bar was with the trend and formed at a solid support level. To read the original post see HERE. Since that original post price has come off and moved higher from the pin bar into the first resistance area.
When price moved into the first resistance area it attracted sellers and we have since seen price sell off. Price has now moved lower and is hovering around the Pin Bar low. If price can move past the Pin Bar low the next support level comes around 0.9425.
USDJPY DAILY CHART | 12 JUNE 2013
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