USDJPY sellers making a play. What does that mean? Where are the risks? Find out here.

The USDJPY sellers are making a play today with the break below the 150.00 level. Not only was the level a key natural level, but also corresponded with the 100-hour moving average. That’s key.

The prices also fall below its 200-hour moving average 149.898. That’s key and the 38.2% retracement of the move up from the October 10 low at 149.774. That’s key too.

Having said that, the 50% midpoint of the move up from the October 10 low comes in at 149.466. The price has not moved below that level. Nor has the price move below a swing area around that midpoint between 149.47 and 149.54.

In this video, I talked to the technicals that are driving this out currency pair (and also with a high toward the Bank of Japan meeting next week). What does traders want to see if they are short? If they are long?

Be aware. Be prepared. Watch the video above.

This article was written by Greg Michalowski at Source