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USDJPY moves below its 200 hour moving average for the 1st time since September 26

Date:

USDJPY fall below its 200 hour moving average

The USDJPY move up to a high price today of 144.806. That was short of the ceiling area near the 145.00 level. Sellers in the US session push the price below the 100 hour moving average at 144.597 and has now extended that selling to and through the 200 hour moving average 144.163. There is also a swing area between 144.05 and 144.182.

The swing low from September 28 at 143.898 below that and the door opens up for a rotation down toward the 38.2% retracement at 143.408.

The US dollar is pushing to the downside and making new session lows vs. the EUR, GBP, JPY, CHF, and CAD.

The EURUSD moves closer to the parity level (traded to 0.9993).

The GBPUSD did not stall at the 200 bar MA on the 4-hour chart at 1.1452. That was also near the high of a swing area between 1.1404 to 1.1459. Bullish.

The USDCHF has broken and ran from the 200 and 100 hour MA at 0.9847 and 0.9833 respectively. It now trades at 0.9789.

THe USDCAD fell below its next target area between 1.3543 and 1.35556. The 38.2% retracement of the move up from the September low comes at 1.34992 (call it 1.3500). That level is the next target on the downside

The AUDUSD is still lower after the less than expected 25 basis point hike (was looking for 50 basis point) but that pair is back above its 200 hour moving average at 0.6494 (trades at 0.6500).

The NZDUSD is higher on the day but still just below its high for the day at 0.5757. The price currently trades at 0.5740.

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