2017 low at 108.12. The low today reached 108.248.
The USDJPY has moved lower (JPY higher) despite a low flying missile from No. Korea going over the island nations land. It seems to be counter intuitive - at least to me - but the sellers have overwhelmed the buyers. Note there was a decent correction off the initial Asian lows but later a new low was made as stocks in Europe took a nose dive. Eye the technicals on this one.
The low today reached 108.248. That level sniffed the low for 2017 at 108.12 (see daily chart below). A move below that level and there is not a lot of support until the 107.486 on the daily chart. A lower channel line cuts across at 107.15 area.
Drillng to the 5-minute chart, the larger price correction off the initial low, held the 200 bar MA (green line). The last correction higher is holding the 100 bar MA (blue line). Those MA lines at 108.597 and 108.68 currently are levels to watch for intraday bias clues. Stay below is more bearish. Move above is more bullish.
