USD/JPY is down 0.8% today to 130.75 and is looking like it might be headed back towards a retest of the 130.00 handle if you go by the charts. It has been a straightforward technical rejection at the 200-day moving average (blue line) and the banking crisis that manifested has only served to reinforce the downside push:
Other yen pairs are also showing signs of a potentially bigger move on the charts with EUR/JPY under pressure near its 10 February low at 139.55 at the moment:
That could set up for a test of the January lows next closer to 138.00 first and then at the 27 September low at 137.36 potentially.
Meanwhile, AUD/JPY is also under pressure as it seeks a test of its low points from May last year, December last year, and January this year:
That comes after a rejection of its key daily moving averages as well with the events in the past two weeks serving to amplify the downside momentum.
The lows around 87.30-40 will be key to watch as a break there will leave little to no support on the way down for the pair next.
