Yields falling
The sharp move lower in US 10 year yields has dragged the USDJPY pair lower as investors back track from faster fed tapering and quicker rate hike expectations on virus fears. The weekly chart is showing a strong rejection of 115.00 and, if the close is right, a bearish engulfing bar taking in over a month of price. Technically this opens up a re-test of 112 for next week.
BUT, this all depends on the latest vaccine news of course. Nevertheless, noteworthy technically.
