100 and 200 day MA re-broken
The USDJPY has turned back to the downside technically, as the price moved back below the 100 and 200 day MAs at the 121.53-58 area.
The high price in the NY session stalled just ahead of the 100 and 200 hour MAs at 121.76-81 area (not to be confused with the 100 and 200 DAY MAs).
Sellers are in back in control on the break. Stay below 121.58 now and they keep control. There is an intraday double bottom at 121.048 which is the next target.
Like all trading today in all currencies, it is Friday. It is the week before a big holiday. We are past all central bank stuff now. It is also quadruple witching in stocks today (= volatility potential). So be aware. The technicals are a bit more bearish now as a result of the dip back below MA levels, but it can run the other way today on a failure. So trade, but define your risk. Technicals do that for you.
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