S&P moves toward the 200 day MA and USDJPY follows

Coming up quickly as stocks continue to slide

The S&P is down -44 points now and in the process is quickly catching up to the key 200 day MA.

The 200 day MA comes in at 2607.89. The low has reached 2618 (as I type). It is getting there.

Earlier in the month, there was a single close below the 200 day MA. There were 4 days when the price traded above and below the MA but closed above the level.

The biggest influenced forex pair is the USDJPY (and JPY crosses).

The USDJPY is now negative on the day (below 108.70 and trades to new session lows at 108.55.

The pair moves toward targets at 108.40-50 (see 4-hour chart below). The broken 38.2% of the move down from the November high comes in at 108.468.