EURJPY at 100 day MA as Europe heads for the exits.

The EURJPY has breen trending lower over the last few hours of trading and is ending the European session at the 100 day MA.

• That level comes in at the 104.49 today.
• The low came in at 104.43 so far.

Below this level, is the 50% retracement of the move up from the 2012 low to high trading range. That level comes in at 104.22.

The area (104.22-43) should solicit some profit taking as risk is defined and limited. Topside resistance comes in now at the 104.76-87 area where the 38.2%-50% of the sharp move down over the last few hours, is found (see chart below). If the market trend down is supported strong sellers, this area should solicit sellers.