Japan loses in the round of 32at the World Cup. USDJPY ticks to 40 year high

Brazil scored in the 95th minute to beat Japan 2-1. At about the same time, the USDJPY is ticking to a high or 161.97 which continues to push against the highest level since the end of 1986.

So far the market is not seeing stops being triggered. It would take a move below the 161.80 level followed by the rising 100 hour MA (blue line on the chart above) at 161.738 to give more control to the sellers. Absent that, and the buyers are in control.

This article was written by Greg Michalowski at investinglive.com.