100 hour MA and 38.2% retracement at 80.00 area

The NZDJPY has been moving back lower over the last few hours as the NZDUSD hits fresh lows and the USDJPY also retraces it's gains.

For this pair, the price broken above its 100 hour MA earlier in the Asian session. It was the first break above the MA since July 28th. The move above, stalled at a topside trend line off the July 27 and August 7th highs.

The price decline retests that broken 100 hour MA (at 79.98), and also the 38.2% (at 80.01) of the move up from the August 11 low. It is a key area. It took a while to break the 100 hour MA, retesting should find support buyers (with stops below). Add the 38.2% and the level is more important. The 80.00 area is also a natural level of support.

So up and down today, but there should be support HERE with a break below souring the dip buying move. Look for stops on a break.

On a hold, watch the 80.18-22 as a level to get back above to help confirm the low is in place. That area was the low on August 9 and the high during yesterday's trading (see Red line and green circled numbers).