USDJPY falls to new lows but rebounds after China tariff headline
USDJPY falls toward trend line and bounces
The USDJPY fell to new lows on the headline that China tariffs to stay until after US election despite the deal.
That low tested a lower trendline on the hourly chart at 109.822. The low reached 109.846 before rebounding back higher. The pair currently trades at 109.99.
The technical bias would still need to see a break below the trend line and the swing area at 109.675-723 (swing highs from December). The rising 100 hour MA (currently at 109.617) is also in play for a shift in bias (on a break).
The Nasdaq and S&P have turned back lower. The S&P is currently down -2.34 points or -0.07%. The NASDAQ is down -5.13 points or -0.05%.
Spot gold is off its lows but still remains negative on the day at $1545.50, down $-2.50
WTI crude oil futures are up $0.46 or 0.79% at $58.54.
The 10 year yield is trading at 1.819%, -2.6 basis points. The low reached 1.8109%.