Dow moves into the red
The ISM Non-manufacturing data was worse than expected. Stocks dipped a little with the Dow moving from +15 points to -18. The S&P moved from +8 to +6 points. They have recovered a little (Dow back positive as I type).
For the USDJPY, the price has moved modestly lower and tests the close level from yesterday at 111.30-31 area. The price also moved back below the 200 day MA (and away from it) at 111.457, and a trend line at 111.36. Yesterday that 200 day MA stalled the rallly. Today, the price has been waffling above and below, but is now back below and moving away (bearish).
Stay below the trend line and the 200 day MA is more bearish now.
ON the downside watch the 111.157-184 area as a target on more weakness.
