Mixed stocks. Lower yields
The USDJPY moved higher in the US morning session, and in the process moved up to test its 100 hour moving average at 113.828 currently (see earlier post outlining the level). The sellers leaned against the level and have pushed the price back to the downside. The pair currently trades at 113.68.
Earlier today, the low found support near the low from last Friday at 113.396 (the low reached 113.38). That low was also near a swing area defined by the 38.2% retracement at 113.21, and the aforementioned 113.396 level.
Staying below the 100 hour moving average (and higher 200 hour MA as well), tilts the short-term bias to the downside, but the pair still remains within the Red Box of up and down swings.
