The USDCHF and USDJPY opened the NY session with the USDJPY up 0.28% and the USDCHF trading near unchanged. In the last 50-60 minutes, the sellers came in to push each of the pairs lower.
In the USDJPY, the price fell back below the 110.00 level and a trend line at 109.92 and momentum took the pair through the 200 hour MA and down to retest the 100 hour MA at 109.75. The price bounced back up toward the 200 hour moving average but remains below.
The 100 hour MA found support buyers on Friday and earlier today. This is the 3rd test. The remains a key barometer for buyers and sellers. Move below and the 100 day moving average at 109.63 would next be targeted.
For the USDCHF, the pair moved up to test its 200 hour moving average in the early North American session but continue to find sellers against it (see green line). The price move below the 100 hour moving average and took off to the downside. The fall did not stop for briefly trading below the earlier lows for the day near 0.9139. The price has bounced off that level but remains below its 100 hour moving average (at 0.91634).
Yields did come off of their higher levels which may have helped the move to the downside. Gold prices also moved higher which can have eight downward impact on the US dollar (gold is trading up around $23.50).
Technicals also came into play