Further losses in USDJPY seen

Heavy losses in global equities markets dragged JPY crosses down today. USDJPY sits right at the 50% retracement of the run from 87.10 to 101.43. If this level gives way, which I anticipate, next level of support is 38.2% at 92.57. MACD bearish cross from 3 days ago also points to strong bearish momentum. USDJPY on a daily chart is below 10, 50, 100 and 200 SMA further pointing to additional weakness.

Good trades