Early rally wiped out
USD/JPY is at the lows of the day and approaching a one-week low after the Asian rally was wiped out.
The pair is now down 11 pips on the day at 107.40 after climbing as high as 107.77. The July 1 low of 107.77 support ahead of the June 29 lows.
In the bigger picture this pair remains right in the middle of range since the pandemic kicked off and is a poor tracking mechanism for the overall risk trade.
