Lots of selling into the London fix/closeThe USDJPY cracked below the cluster of support (see earlier post) and raced down through the 50% of the move up from Feb 15 and a trend line too. The action came into the London fixing/close. It is the last day of the month. Stocks have given up their gains but it seems a technical move and perhaps a flow move as well.
Nevertheless, the pair is not below the 50% and the trend line and that is more bearish.
As Adam pointed out the JPY crosses are also getting smacked.
The GBPJPY fell below its 200 day MA and tested the October and November lows at 146.96 area. Another key target level.
The EURJPY did the same in trading today (in the Asian session).