USD/JPY has traded at the 200 day moving average on four occasions since the major uptrend began in late 2012, notes CitiFX Technicals. "Before yesterday, the previous three occasions were in October 2013 and early November 2014. On each occasion we saw the 200 day moving average give way on an intraday basis, but the pair did not sustain below. Instead the previous instances were platforms for a rally in in USDJPY," Citi clarifies. "Yesterday was no different …an intraday break of the 200 day moving average followed by a bounce back up to post a clear hammer pattern. From a Price action perspective, this hammer ... (full story)