200 hour MA could not be reached. Stocks move lower and so do yields...

With the US stocks lower and US debt yields also lower (10 year down -2.8 bps), the USDJPY has made a run to the downside.

Technically, the pair could not muster enough support to get to the the 200 hour MA again after testing it in the Asian session (see green line in chart below). As a result, the sellers took more control and have now shoved the price below the 100 hour MA at 108.127. Also in the Asian session, the price tested that MA but bounced. The break now is more bearish.

200 hour MA could not be reached. Stocks move lower and so do yields...

The 108.00 level, followed by the 107.89 and 107.855 are other downside targets ahead of the low from last week at 107.798. Stay below the 100 hour MA is now close risk for the pair.