100 hour MA at 103.82 is the next target.
The USDJPY is moving lower (JPY crosses are also on a downward trajectory) as stocks give up gains and perhaps some weekend squaring up takes over.
The pair is trading below trend line support now (on the hourly chart above at 104.04) and the 104.07-09 area which was a swing low on October 12 and swing high in yesterday's trading. The 104.15 is another level to stay below now. That was the high from October 6th.
Targets include the 100 hour MA /trend line at the 103.83 level Below that the 200 hour MA at 103.577 and the 100 day MA at 103.297.
