Buyers getting nervous

Stocks are running lower and the Pavlovian risk off trade, has the USDJPY moving lower (and the other JPY pairs moving lower as well).

Technically, the price fell below the 100 day MA at 108.97. It fell back below the 50% of the last run higher at 108.98. You can see the "giving up" on the 5 minute chart above.

A lower trend line is now being tested intraday. The close from yesterday is at 108.70. Those are the next targets...

The S&P is now down -16.4 points or -0.62%

The Nasdaq is down -75 points or -1.06%

The Dow is down -252 points or -1.02%