The USDJPY moved sharply lower on the back of lower yields, and in doing so cracked below MA support with sustained momentum. However, the break of the 50% midpoint of the move up from the October low, could not be sustained.
If the sellers are to take more control, getting and staying below the 50% is needed. Absent that, and the central bank fundamentals continue to support the pair. The USDJPY needs the technicals to keep the sellers in control.
