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USD/JPY slipping towards technical support again
Earlier today, an update here noted the rebound in the USD/JPY, from a session low at 142.81, above 143.10. Well, that rebound then extended to a high at 143.30. However, it did not come close to threatening the earlier Asian high at 143.62. It has now fallen back below 143 again and therefore closer to the noted and important support at 142.72 (200 day moving average). So, is this now becoming a magnetic price point? Well, it could be, but it really depends upon whether or not there are stops below 142.72 now. It is possible of course. Perhaps the US data this afternoon will be the catalyst that finds that out, or not as the case may be, if not beforehand. The USD/JPY is currently trading at 142.95
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