JPY crosses also moving lower
The NASDAQ is down -1.53% now as FB and Twitter exec testify on Capitol Hill. That is leading to a weakening of the USDJPY.
The pair moved up toward the highs from last week (and a topside trend line), and stalled. The price is now down testing a lower trend line. A break will be more bearish.
The JPY crosses are also moving lower.
Looking at the EURJPY, the pair is back down testing the 200 hour MA at 129.473. The 100 day MA is at 129.397. A move below will have traders looking toward the 100 hour MA at 129.117.
