The low from yesterday and 200 hour MA approached
The USDJPY has wandered lower and is trading at new session lows as London/European traders move toward exit time.
As mentioned earlier,
"I would expect that the downside would be supported but rates are down....So would rather be a little more patient. Maybe there is a push toward the low from yesterday at 114.47 (and the 200 hour MA at 114.43). That would be a better level for a trade, given the market price action. Shorts want to see the price stay below 115.00 and get below the 100 hour MA."
We are moving down toward that support area where there should be some buying interest - or I expect buyers (the low reached 114.51). Risk can be defined and limited near the support area for the reasons cited.
In the US debt market,
- 2 year yield is unchanged but the
- 10 year yield is down 3.2 bp and the
- 30 year yield is down 4 bp
That is helping the wander lower in the USDJPY.