USD/JPY takes another crack at 107.00 again

Author: Justin Low | Category: News

And fails... the pair hits a high of 107.03 before falling to 106.89 currently

As Mike noted here, sellers lurking nearby at 107.00-05 and that has pushed the pair down for the time being.

It's another run at the figure level for buyers, one that failed on Friday and at the moment is stalling the upside for the pair. Prior to this today, the pair posted eight straight positive hourly closes bouncing off support just under the 100-hour MA (red line).

The key risk event for the pair will be the US CPI report that is to come later in the day, but also do watch out for the option expiries for today and later in the week as well.