USDJPY swings to the downside.

Technical Analysis

Author: Greg Michalowski | usdjpy

The dollar takes a dip

The GBPUSD has led the way with a break above its 200 hour MA (see post here), but overall the USD has moved to session lows against all the major pairs with the exception of the loonie.

Against the USDJPY, the pair is now in the red (down -10 pips on the snapshot above).  

Technically, the pair pushed higher after the employment report but stalled ahead of a forming swing area (see yellow area). The fall has moved toward the 38.2%$. The lower trend line comes in at 113.71. The 200 hour MA /50% retracement is at 113.78 area (key tech. area on more weakness). Look for buyers on dips toward that area. 

The US stock market will open with the Dow and S&P futures near unchanged areas. The Nasdaq is still a little lower. 

Yields are higher after the report with the 10 year up 2.9 bps to 3.2157. The high did reach up to 3.23%. The low was at 3.185%.
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