Expect USD/JPY to slip somewhat if the 200-day moving average at 2.18% gives way. The next level to watch is 2.16%, which was the January high.
USD/JPY is at 83.07, slightly above the US low of 83.05. Bids seen down at 82.50. I would prefer to be a buyer here for a short-term trade but there is not overwhelming case in either direction.
