USD/JPY extends lower as sellers regain near-term control

Technical Analysis

Author: Justin Low | usdjpy

USD/JPY falls to a session low after breaching the key hourly moving averages

USD/JPY H1 25-04
I'm not seeing anything in Kuroda's comments to really drive the move lower here but it could be something to do with a quick dip in E-minis, which erased about 0.2% gains earlier:

E-minis 25-04
But looking at the currency pair itself, USD/JPY is now holding below the key hourly moving averages and that puts sellers back in near-term control of the pair. For now, there is support seen around 111.65-75 but the key level to watch out for will be further support near 111.50 - where the 200-day moving average resides.

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