Yields moving lower
The USDJPY is cracking lower taking out the 110.55 area that defined lows on Thursday and Friday. THe low from last weeka t 110.415 is also the home to the 100 bar MA on the 4-hour chart.
Helping the push, was the break below the 200 hour MA. THere was earlier attempts to get below that MA (see green line) but each failed. Yesterday, the price based against that MA, right bfore the run higher that took the price from 110.68 to 111.229.
Also helping are US yields. The 10 year is traidng at the day lows at 2.6303%, down 3.2 basis points. The 5 year is at 2.44%, down 3.6 bps.