EURJPY is taking a breather between the 200 hour MA (green line at 106.42) and the 38.2% retracement (at 106.689). The pair earlier fell below trend line support in the early far east session and the trend move down move down has been steady.
Looking at the 5 minute chart, the 38.2% and 50% of the last leg down in the pair comes in at the 106.74-868. A move above these levels will also be needed to wrestle some control away from the sellers today.
