Dollar gets softer
The news that Special Counsel Mueller will impanel a grand jury on the Russian probe has sent the USDJPY to new session lows (and the dollar lower too).
The pair has reached to a new low of 109.84 and back below the 110.00 natural support level.
Earlier the day, the low stalled at 109.94, ahead of the low from Tuesday at 109.909. The correction higher moved into the 110.10-23 resistance area (see daily chart below), but stalled right at the 110.23 (see hourly chart above). That gave sellers more confidence. The news helped to push the price to the new day lows (see prior post).
The holding of the 110.10-23 area increases that levels importance technically. Sellers will want to see the price now move away and extend more to the downside. The 109.31 is a lower trend line on the daily chart (see daily chart). That would be a level to go for in the new trading day, if the sellers can keep the price below the aforementioned resistance area (110.10-23)..
