100 hour MA broken at 112.11
The USDJPY is back below the 100 hour MA at 112.11. Yesterday, traders took the price above that MA and trend line but could not get to the highs from Thursday/Friday last week.
The move back below the 100 hour MA is a disappointment for the bull. The underside of the broken trend line comes in at 111.87 (and moving lower). That will be eyed as a target below.
A slide in stocks is helping the selling.
- The S&P is now down -0.84% and trading at the lows at 2785.
- The Nasdaq is down -74 points or -0.95% at 7572.
- The Dow is down -273 points or -1.07%.
Yesterday the gains were over 2.10% for the major indices with the Nasdaq up 2.8%. So there is still gains vs. yesterday, but those gains are being eroded.