Early this morning there were some fundamental developments in Japan. At first, we heard some rumours about further monetary easing there. Then, the rumours were confirmed when the Japanese prime minister Abe announced further economic stimulus to help the Japanese economy. The minister for the economy Ishihara will take care of the package which will be funded by construction bonds. 

The 20 moving average on the 5 min forex chart has turned into support

The Yen pairs shot up higher on the news with USD/JPY reaching 102.20 a while ago. That went well for our buy forex signal in this pair. We opened it when the price retraced to the 20 moving average on the 5 minute forex chart. We know that when the trend is strong the smaller time frame moving averages are the ones to provide support and resistance, so we opened a buy forex signal there about an hour ago and it went according to plan.