38.2% holds after Durable goods release

The USDJPY fell after the Durable Goods report. There are always a lot of slices from the Durable goods report but overall, with revisions, the numbers look worse than expected and most are showing negative numbers. So no silver linings in the report.

The USDJPY fell to a low of 120.151 which is just below the 38.2% of the move up from the October 15 low at 120.167. The sellers - through the number and perhaps the shorts from earlier - are now covering (or so it seems) as the price has pushed back to the 120.44 level. Go figure.

The 38.2% of the move down today comes in at 120.50 (see 5 minute chart below). The 100 hour MA comes in at 120.575 (see below). The 50% of the days range comes in at 120.615. If the sellers - who have been the dominant in this pair today - are to remain in control, they should lean against this area.