Extends back below a lower trend line.
The USDJPY was not impressed by the rising stocks today. There tends to be a rise in the USDJPY when stocks rise at a healthy pace, but not today. As the stocks come off highs now, the selling is picking up a bit.
On the downside, the pair is moving away from a lower trend line and is currently looking to test swing lows from the end of March and into early April.
The first target comes in at 107.122 (low from March 30 and other lows from April 2). Below that, and the 107.00 will be targeted. The low from April 1 reached down to 106.90.
