Price cracks below the July 20 low
The USDJPY has extended lower (and further away from its 100 day moving average as well) and has just cracked below the low from last week at 109.354 and the low from July 28 at 109.326.
The low just reached 109.246.
As per and earlier post, the price high both on Friday and again today found early sellers against its falling 100 hour moving average (blue line currently at 109.73). The price also fell back below its 100 day moving average at 109.577. Staying below those levels, tilted the bias to the downside.
Source:https://www.forexlive.com/technical-analysis/!/usdjpy-falls-to-new-lows-20210802
