USDJPY falls below 200 hour and 200 bar MA on 4 hour too
The USDJPY is trading at a new session low. In the process, the pair fell below the 200 hour and 200 bar MA on the 4-hour at the 108.25-27 area. More bearish. The pair is testing the 38.2% of the move up from the June 25 lower. That level was broken yesterday on the way to the 50% retracement where buyers came in and pushed the price higher. Today the 100 hour MA may have been broken by a few pips at 108.56 (high reached 108.60) but could not muster much momentum and buyers turned to sellers.
The fall in the USDJPY is also reflected in the JPY crosses (see charts below). The GBPJPY fell below its 100 and 200 hour MAs, the EURJPY also fell below those MAs and tests the low from yesterday. The AUDJPY is testing the 100 and 200 hour MAs now (see charts below).
