200 and 100 day MA, 50% retracement

The USDJPY has tumbled back down to the cluster of support defined by the:

  • 200 day MA at 111.887
  • 200 bar MA on the 4-hour chart at 111.798
  • 100 day MA at 111.713
  • 50% of the move up from the June 14, 2017 low at 111.64.

The low just reached 111.62.

Yesterday the pair reached a low of 111.547 before rebounding into the London morning session. That rally took the price above the 100 hour MA but that break stalled (fell back below the line).

What now?

Stay below the 200 day MA at 111.887 keeps the sellers in control.

Move below the 111.713 and 111.64 levels, then the low from yesterday at 111.547 and the door opens for further declines.

Looking at the daily chart, the 61.8% of the move up from the June low comes in at 110.968. That was also near swing lows from June 22nd.