Pair cracks below the low from last Thursday
The USDJPY has moved to a new session low at 104.45. That move has taken out the low price from last Friday and Thursday at 104.541 and 104.469 respectively.
The USDJPY has been lower for most of the trading session. In the early European session the price tried to extend above the 100 hour moving average (blue line) only to fail. Both yesterday and in the early hours of trading today, the price also extended above that moving average line. Yesterday the pair stalled just above the 38.2% retracement level at 105.01. The pair could not reach the 200 hour moving average target (green line) and started the move back to the downside.
