USDJPY cracks below the 100 and 200 hour MA as dollar sellers take charge

MAs at 113.69-738The USDJPY has fallen below the 200 and 100 hour MAs at 113.738 and 113.694 respectively.  Those MA held support earlier. The price bounced to the topside trend line and held.  The 50% of the weeks trading range is at 113.61. The 61.8% is at 113.456. Targets to get below and stay below.  
The 38.2% of the October move higher comes in at 113.375.
The close risk is now the MAs.  
The stocks have turned more negative:

  • S&P index is now down 11 points or -0.42%
  • NASDAQ composite index is down 25 points or -0.38%
  • Dow induusttrial average is down 70 points or -0.3%

In the interest rates the 10 year yield is now lower by -3 bps and that is helping the downside for the USDJPY. 

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