The USDJPY is trading at the highest levels for the NY session at 117.12. This is despite the S&P trading near the low levels for the day (at 1196).
From a technical perspective the pair is bumping against the 38.2% of the move down from yesterday’s high. It is also bumping against the underside of the broken trend line. Holding below the line might slow the pairs climb.
USDJPY bumps against the underside of trend line and 38.2% retracement.
