USD/JPY touches a session low of 111.20 currently
Price has been bouncing between the lower side of the hourly wedge and the 200-hour MA (blue line) for almost the entirety of today's trading. But finally, we're starting to see a crack in that range.
The pair is now heading lower as the hour draws to a close with sellers finding enough to break away from the bottom side of wedge with price now trading at the lows for the day.
However, there is some near-term support that buyers can lean on in the form of Friday's low @ 111.10. That will be the make-or-break test for a further extension but the break of the wedge itself is a good start for sellers to build on nonetheless.
Further support is seen at 111.00 (bids) followed by the 110.75-80 levels (last week's lows).
