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

<p>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.</p><p>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.</p><p>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.</p><p>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? </p><p>Be aware. Be prepared. Watch the video above.</p>

This article was written by Greg Michalowski at www.forexlive.com.