Price spikes higher on the news
The USDJPY has spiked higher after a WSJ report that the China tariffs may be delayed as US/China haggle over the farm purchases (see WSJ here).
The USDJPY spiked above its 100 hour MA at 108.677 to a high of 108.75, but did run into a topside trend line at the session high. The 200 day MA is not far from the high at 108.795 as well.
It will take a move above all 3 levels to solicit more buying. The price is trading just below the 100 hour MA at 108.677 as sellers leaned against the trendline and 100 day MA at 108.795 on the run higher.
US stocks have moved higher with the S&P up 3.64 points, the Dow up 29 points and the NASDAQ up 14 points. Just after 8 AM ET the major indices were showing fairly large declines of:
- Dow , -123 points
- S&P index, -12.36 points
- NASDAQ index, -44.99 points
