GBPJPY falls back below 200 hour MA

The USDJPY is back below the 100.00 level. On Tuesday, there was a move lower that stalled at 99.50 before Dudley scared the market higher.

Yesterday, the pair traded above the 100.00 level with a low at 100.04.

Today the Asian Pacific session saw price action above and below the level. Most of the London session saw the price action above the key level.

The JPY crosses are also inching lower giving up some of their gains. The GBPJPY just crossed back below the 200 hour MA at 131.51. The pair moved above the 200 hour MA for the first time since July 28th earlier today. ON the move a trend line was also broken. The failure will be eyed going forward. Stay below and the sellers will take back control. The 100 hour MA comes in at 130.65.