Quoting TheGreatMilenkoDislikedOr the usd/jpy decline WASN'T supported by the 21 sma.What you have to remember is the value of any moving average is there on your chart because of where price has BEEN.Price does not follow a moving average or stop because of it.MAS tell you where price has been NOT where it is going.Ignored
It's true that an MA follows price action and is controlled by what price does and not the other way around. There is nothing magic about it other than the fact that it is a reference point that a lot of other traders look at and respond to..... just like fib levels, pivot points, trend lines, etc.
just my opinion,
david