Stock indices turn positive
The USDJPY has a tip higher after support in the 108.645-681 area held (see earlier post outlining the key target area).
Also helping is a rebound in stocks. The major indices are now trading in the black with the S&P index trading above its all-time high close.
- The S&P index is up 2.16 points or 0.07% at 3093.94. The high reached 3095.05. The low reached 3078.80
- The NASDAQ index is up 2.16 points or 0.03% at 8488.23. The high reached 8490.297. The low was at 8451.34
- The Dow is up 28.5 points or 0.10% at 27720. The hi reached 27731.45. The low reached 27587.20
For the USDJPY, the bounce off the support will look toward the broken 38.2% retracement at 108.87 and the 200 hour moving average at 108.905.
Support holds. Now can the buyers keep the run up toward the upside target.