GBPJPY moves to new session lows
The USDJPY (and JPY crosses) are heading back down as US stocks fall over 1% on the day (and trade near lows).
For the USDJPY the price has moved back below the 200 and 100 hour MAS at 107.01 and 106.907 respectively, and approaches a lower trend line at 106.588.
For the GBPJPY, the price is trading to new session lows and in the process fell back below the shorter term 100 and 200 bar MAs. What gave the sellers more confidence was the break, and test that held. That gave the sellers the go ahead to move lower...
That pair tried to get and stay above the 50% of the last leg down on two separate occasions. However each run failed ahead of the next target at the topside trend line. The price rotated lower.
