A quick look around
The USDJPY fell to the 2-week lows on the headline, but has retraced more than 50% of the move down. The low reached 110.087. That was new lows for the year, taking out last weeks lows at 110.10. However a break of 1.3 pips below the year low, is not a run away market (buyers were looming in the 110.00 to 110.10 area) and the price has moved back up to where it all started (at 110.70). The 100 hour MA at 1110.749 remains as topside resistance.
The EURUSD has just moved to new lows and in the process has fallen below the 100 day MA at 1.0623 level At the highs (off the number) the pair stalled right around the 100 hour MA and the 200 bar MA on the 4-hour chart at the 1.0662 area (high reached 1.0663 - good hold).
Traders will be watching that 100 day MA now. Stay below is more bearish. Move above and the shorts might reverse.
For the GBPUSD, the pair moved up to test the 100 bar MA on the 4-hour chart on the headlines but then broke below the 100 day MA at 1.2410 (and the 1.2400 natural support level). The 200 bar MA on the 4-hour is the next support target at 1.23784. The low from March 29 at 1.2375 is also in the picture as a support level to lean against.
