The USDJPY fell below the 200 day MA and the 109.00 level

Technical Analysis

Author: Greg Michalowski | usdjpy

The USDJPY cracks lower 

Gold has moved up on the day and trades at new session highs.  Stocks are moving back lower after trading at all-time record highs and yields are a little lower as well.

That has the USDJPY moving to the downside.

The pair has just moved below the 109.00 level and in doing so, the pair is below the 200 day MA at 108.997.  THe low just reached 108.97.  Looking at the hourly chart above, the price has also fallen below a trendline at 109.02. Earlier the price fell below its 100 day moving average at 109.107. All those levels are risk levels for shorts looking for more.  Stay below is more bearish

The USDJPY cracks lower 
On the downside, the 38.2% retracement comes in at 108.87 and the 200 hour moving average comes in at 108.81. Those are targets on more downside selling.
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