The USDJPY couldn’t go up, so it went down. The price fell below trendline support at 79.23 and then the 61.8% of the 2012 trading range at the 79.13 level (was low from yesterday) and the combination swings the bias back to the downside. Reported stops below the 79.00 would send the pair toward 78.86 and then the 200 day MA at the 78.46.
