USDJPY comes off after data. Stocks turn negative. Pair tests break level.

Technical Analysis

Author: Greg Michalowski | usdjpy

Tests break level at 107.486. Holds so far.

The USDJPY has turned negative and the data was not great especially the Michigan survey which came in at 97.8 vs 100.5 estimate.

The Nasdaq is down -11 points the S&P move down -4 at the lows. It is now unchanged.

Technically, the USDJPY is back down testing the break level at 107.48. That was the high from last week.  A move back below the level will have the swing high from March at 107.286 as a target.  

Here is what it looks like on the hourly chart....

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