The 200 hour moving average is also in play
The USDJPY is trading to new session lows and in the process is testing the 38.2% retracement of the move up from the December 12 low at the 109.223 level, and also a swing low from last Friday's trade at 109.201 .
Not far away is the rising 200 hour moving average at 109.153. The price moved above that moving average on Thursday last week after the US and China announced day trade deal.
Support buyers may look to lean against the 200 hour moving average on the 1st test.
The pair is moving lower despite all time record highs being made in the US stock indices. US yields are lower but only marginally.
Gold prices are up $3.37. Higher goal tends to weaken the dollar a bit but it's not like the precious metal is running.
