Stocks reverse. Negative on the day. USDJPY follows. Dollar lower too.

Technical Analysis

Author: Greg Michalowski | usdjpy

100 hour MA retested. Price in the Neutral area.

The US stocks have given up their gains for the day with all the major indices in the red now. That reversal, has the Pavlovian reaction of selling the USDJPY (and the dollar in general). 

The USDJPY has moved back to the 100 hour MA. Testing now.  A move below is more bearish. 


Looking at the daily chart, the pair remains below trend lines above and has a lower trend line at 105.69 to work toward on more bearishness (see chart below).


The EURJPY  (and other JPY crosses are moving lower).

The GBPUSD moves to new highs and moves toward a topside trend line at 1.4139.