Price dips below swing area between 114.457 and 114.544.
The USDJPY is falling to a new session low as rates - especially in the short end - are lower. Also, the US stocks are dipping a bit with NASDAQ now down -40 points or -0.25%. US yields are moving lower with the five year leading the way -3.1 basis points.
Looking at the hourly chart, the pair moved below the 114.457 to 114.544 swing area (see earlier post) and as seen steady selling down to the 100 hour moving average at 114.235. This is the level where buyers might look to lean against as risk can be defined and limited against the moving average level.
