New lows for the month of September
The USDJPY has moved to a new session low and in the process trades to the lowest level since August 31. By definition it is also at new September lows. The price has moved to a low of 105.375. The move has taken the price below the low from yesterday at 105.537 and the September 1 lows at 105.585. Stay below each would keep the sellers firmly in control now.
The August 28 and August 31 lows are the next targets at 105.289, 105.233 and the August 28 low at 105.193.
Earlier in the London morning session, the price was able to extend above the low from last week at 105.782, but that move was rejected after trading as high as 105.81 today. The last 4 hourly bars have seen the price move lower.
Recall from last week, the pair traded in a 59 pip trading range which was the 2nd lowest in 2020. The range this week is up to 79 pips.