Forex Trading: Stocks are higher pushing up EURJPY cross in the process

The EURJPY cross is being supported by a stronger stock market.  

EURJPY is testing 100 hour MA resistance at the 167.67 level.  A break above will target KEY resistance at the 168.00-168.02 level.   The 200 hour MA comes in at 168.02.  Also, the 61.8% retracement level of the move down from July 14th comes in at 168.00 (see chart above).  Expect sellers against this KEY LEVEL.

The pair is above the 50% Retracement of the move down from the July 14th high.  That level comes in at 167.47 and will be watched for early support.