USD/JPY falls below Monday's low
USD/JPY is under some modest fresh pressure as risk trades fade. It's important to note the re-establishment of this trade as a risk trade, following the dislocations in mid-March.
This is a continuation of the failure to break 111.70 last week after the epic battle up there.
There is some support at 117.00 right now but I don't see much to stop a fall back to 104.00.
