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We analyze three-dimensional numerical simulations of driven incompressible magnetohydrodynamic (MHD) turbulence in a periodic box threaded by a moderately strong external magnetic field. We sum over nonlinear interactions within Fourier wave bands and find that the timescale for the energy cascade is consistent with the Goldreich-Sridhar model of strong MHD turbulence. Using higher order longitudinal structure functions, we show that the turbulent motions in the plane perpendicular to the local mean magnetic field are similar to ordinary hydrodynamic turbulence, while motions parallel to the field are consistent with a scaling correction that arises from the eddy anisotropy. We present the structure tensor describing velocity statistics of Alfvénic and pseudo-Alfvénic turbulence. Finally, we confirm that an imbalance of energy moving up and down magnetic field lines leads to a slow decay of turbulent …