The USDJPY 100 hour moving average is at 1081461
The USDJPY moved lower on the reports that BOJ officials are looking at ways to enable yields to fluctuate more freely in their policy review (according to sources). The JPY moved higher/the USDJPY moved lower on the news.
However, the fall found support buyers just ahead of its 100 hour moving average of 108.461. The price is currently trading backup at 108.66 after the low reached 108.49. The price of the pair is not traded below its 100 hour moving average since February 24. A move below would next target a upward sloping trendline and 38.2% retracement near 108.245.
