Forex technical analysis: USDJPY down on the day

Traded lower and then higher. It is now lower.

The USDJPY moved lower in Asian trading, rallied in early European trading, and is falling back down in NY/North American trading.

Technically,

• The low today stalled near the 100 hour MA (blue line in the chart above).
• The high stalled just below the 100 day MA at 111.84 (and also the highs from yesterday).
• The pair is now below the close from yesterday at 111.44 and also below the 100 bar MA on the 4-hour chart at the same level.

The 100 hour MA is now at 111.243 and a downside target on further selling.