USDJPY tests resistance and crosses below moving average

Short

U.S. Dollar / Japanese Yen (FX:USDJPY)

FX:USDJPY U.S. Dollar / Japanese Yen

Over on the hourly time-frame, USDJPY remains bearish as it tests a resistance zone previous broken out of. As we look at the support zone, this pair once again looks to resume a range. Current trade set up is to go short with a price target just tad below the 122.80~ mark with a stop loss just at 124~ giving a good reward to risk ratio.

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