The dippers must be out of ammo as USDJPY keeps sliding
124.07 is the new low after stops were flushed through 124.15/20. As Mike noted on the order board, there's strong offers at the big figure and stops lurking if that goes
Yesterday I noted that 123.75/80 was one level I was looking at to confirm a consolidation range and we're in the ballpark to have a look. 123.55/60 was another but if we break those two then we could well see an even deeper correction towards 122.00 or 121.50
USDJPY H4 chart
That's something to look out for IF we break those levels. Right now we need to see how many times we knock on the 124.00 door. Yesterday we tried 3 times at 125 before overpowering it on the 4th attempt
124.25/30 is now mild resistance, with more probably coming in at 124.40, then 124.60/75/90
There's little help once again from the US calendar today. JOLTS is up later but it rarely moves the market unless there's a huge deviation. That might be different today with dollar buyers recently jumping on any good US data. In these current moves a good number might just give the sellers some more ammo to short into while a bad number will strengthen their positions
