Technical Analysis: USDJPY cracks lower with the dollar selling via ForexLive

The USDJPY has dipped below the 100 hour MA on the break lower in the USD on comments the Fed, PBOC liquidity pumping news, and England and Wales survey saying they don't want Scotland to leave the United Kingdom.  The move lower in the USDJPY moved to the bottom trend line on the hourly chart  at 106.82 and stalled . The price did crack the 100 hour MA above (blue line at  107.08) though and this is now risk for sellers who are happy being short.  See prior post. 

The sellers did take control on the break and close below the MA (first close below since September 5th), but need to make the next push below the support trend line to gather more selling followers.

USDJPY breaks below 100 hour MA, but stalls at the lower trend line at 106.82.

The 106.62 and 106.345-37 are the next targets if support can be broken. A move back above the 100 hour MA would anger the sellers who have been waiting for two days for the  USDJPY to break lower.  Now is the time for the sellers to show what they got.

posted via ForexLive