USDJPY breaks below its 100/200 hour moving averages
Approaches its 100 day moving average at 109.818
The USDJPY as moved lower after the lower than expected CPI data. In the process, the technical shift has moved to the downside after the break of the 100 and 200 hour moving averages. Both of those moving averages are near 109.98 area. It would take a move back above that level (call it 110.00) to shift the bias back to the upside. Stay below and the bears/sellers remain more control.