A look around...

EURUSD.

Putting the 100 week moving averages aside, looking at the hourly chart the 1.1304 level has been a short term floor. It is also the 50% of the move up from Wednesday's FOMC minute lows. The pairs sits on (near) the fence. Depending on which way the traders legs decide to go over that fence will determine the next moves going forward.

GBPUSD

The GBPUSD failed on the break higher this week (above 1.3074 and then 1.3095, and the 100 bar MA on the 4-hour chart). Today, the price tumbled below those levels and remained below those levels. That says sellers are in control.

The 100 hour MA (at 1.30339 currently) and the 50% retracement at 1.30243 is support and that area held. SO there is a battle between support and resistance, but the buyers had their chance to run to the upside this week/today, and the effort failed. THe buyers need to prove they can take it higher (above 1.3074 and 1.3094) once again. Until then, sellers in control with a move below 1.3024 leading to 1.3000. A move below that level opens up more downside doors.

USDJPY

The USDJPY range is squeezing together as the week works toward the close. The consolidation over the last few days has allowed the 100 hour MA to catch up with the price. That level comes in at 100.37. ON the downside there is trend line support and then the 100.00 level. This week traders moved below the level a few times. The most serious breach was on Tuesday, but comments from Fed's Dudley about potential hikes send the pair racing back higher. The longer term trend has been lower. But traders are a bit fearful of intervention below the 100.00 level. What we do know is there are some technical battle lines that are being set and the price action (either above the 100 hour MA or below the 100.00 level again) will help to tell "the story".