USDJPY inches to a new session low

Technical Analysis

Author: Greg Michalowski | usdjpy

Testing lower support area between 109.417 and 109.480

The USDJPY is inching to a new session low and in the process moved into the swing area support between 109.417 and 109.480.  

Dalian

A move below the level should solicit more selling with 109.283 (high from Friday's trade as the next target followed by the 200 hour moving average of 109.097. The 100 hour moving averages at 108.986.  

So far however, the the area is holding support.  

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