Well no worry about a 27 pip trading range for the day
The USDJPY has extended lower and extended the 27 pips trading range that prevail for most of the trading day (would have been the lowest range going back to last August - see prior post).
The pair has the 124.48 level as the next target. This represents 50% of the move up from yesterday's low to the yesterday's high. It also is the Asia-Pacific high from yesterday's trading. The 100 hour ma is down at 124.275. The prior low for the day, should now provide resistance if the sellers are to keep the pressure on.
