| The price remains below its 100 hour moving average, and is also below its 200 hour moving average. Despite the better ADP data and steady but strong initial jobless claims, the USDJPY is moving lower. Yields are also now in negative territory with the 2-year yield down around 1 basis point and the 10-year down -3.1 basis points. Technically, the USDJPY has been able to stay below its 100-hour moving average at 139.99, and although trading above and below its 200-hour moving average at 139.484, is now pushing lower and looks to test the Asian session low, and a swing area between 138.731 and 138.897. Getting below each would increase the bearish bias, and have traders looking toward the 38.2% retracement of the move up in May. |
Founded in 2008, ForexLive has been the go to source for both professional and retail traders from around the globe. Our core belief is that all traders want relevant and succinct trading information, and we deliver it 24 hours a day.
Tags: Featured,newsletter
