Below the 100 hour MA and the 100 bar MA on the 4-hour chart
Be aware. The USDJPY is trading at a new session low and in the process is moving below the 100 hour MA and the 100 bar MA on the 4-hour chart (see earlier post outlining the key area).
As I type, the price is scooting lower and just reached a new session low at 109.886. The next key target comes at the 200 bar MA on the 4-hour chart at 109.602. Looking back, on Monday that MA stalled the fall. On Tuesday, the same line stalled the fall. Another test (at a higher level than the last two) will likely attract the dip buyers but be aware, there could be more stops on a break.
Risk? Stay below the MA lines. A move back above angers the shorts and could lead a sellers covering.
US yields are trading lower with the 10 year down about 2.9 bps now.
Dow stocks are losing some momentum (up 100 now after being up about 175 points earlier). The Nasdaq is down -63 points or -0.82%. The S&P is also lower now (-0.12%).
Lower yields and stocks are weighing on the USDJPY.