Last week's low is today's low too.
The USDJPY has moved lower after the spike higher on the US employment report on Friday failed to stay above its 200 day moving average at 108.809 (see overlay line on the hourly chart below), and the 100 hour moving average (bluel line). That was a disappointment especially after such a strong employment number.
Today, the early Asian session rise didn't go very far and the price has rotated further to the downside. The pair has found some support buyers against the low from last week at 108.422. Can the buyers hold that level? That will be the key in trading today. On the topside, the falling 100 hour moving average at 108.678 will be the hurdle that would give dip buyers more confidence.
US stocks are opening with modest declines (typically a small negative for the USDJPY) and US yields are also marginally lower (a small negative as well), but each are not running. So the USDJPY is not as well.
