Are investors worried about auto tariffs for Japan?
The US stocks are getting ready to open and the fears of fallout from the G7 are fading away. Stocks will open near unchanged and may be an influence.
The price action in the USDJPY shows buyers. Is it because the fear from the G7 is not what the market though (the USDJPY fell but quickly rebounded), or was it fears in Japan that auto tariffs are a concern? That weakens the Japan economy as they rely to a certain extent, on exports of autos to the US (they also build them there, but...)
Technically, the price has moved back above the 100 hour MA (blue line) at 109.799. On Friday, that MA found sellers. Can the MA continue to hold support now? Holding keeps the bulls in charge. Move below and there could be some further corrective activity in the pair.
