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EURUSD dips back below the 200 hour MA. USDJPY also breaks above MAs.

As yields move higher, the USD is too. The 2-year yield is now up 12.7 basis points. The 10-year yield is up 5.4 basis points and nearer the highs for the day.

Looking at the EURUSD it is trading to a new session low and in the process has moved below its 200-hour moving average target at 1.07305. That moving average held support on the dip right after the jobs release. The 100-hour moving average at 1.07155 is now the next target to get to and through if the sellers are to assume more control.

The close risk now will be up to 1.0747 now. That was a high price from Tuesday's trade and near the current hourly bars high. If the price moves below the 100-hour moving average, the 200-hour moving average will be the new close risk level for traders.

Sellers are making a play, but with more work to increase the bearish bias.

Meanwhile, the USDJPY is also extending to a new USD high. In the process, it is looking to move above the near converged 100 and 200-hour moving averages. The 200-hour moving average is at 139.545 and is now a close risk for traders (give it a few pips). The high price just reached 139.69.

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