Key MA break today
The USDJPY fell below a key longer term MA today. The price fell below its 100 week MA at 109.856. Staying below is more bearish.
Drilling down to the 5 minute chart, the pair has been accelerating the downside away from the 100 bar MA (see blue line in the chart below). That MA stalled a number of rallies over the last day or so. The pair is approaching converged trend lines at 109.10. Does that area stall the fall?
Hard to say, but if there is a break below, the dip buyers will be selling out. You don't mess with the trending market and the dollar is trending.
EURUSD tests 1.2400.
GBPUSD moves closer to target around the 1.4225 area.
