The USDJPY traded up and down this week with clearly defined support and resistance levels. When a break higher failed earlier this week, the price rotated lower. However, the low found support against a key MA level, giving the buyers the go-ahead to re-probe the upside.

On Friday, May 12, the price moved above a key MA level, a key swing area going back to February, and the storyline took a twist with buyers taking more control.

What next?

Well listen to the next chapter in the book by listening to this video. It’s a page turner.

This article was written by Greg Michalowski at www.forexlive.com. MoneyMaker FX EA Trading Robot