Stock move higher helped. Bond yields lower but off lows

The USDJPY fell below the 111.00 level on the way down to a day low of 110.74 - the lowest level since November 22nd. The 110.58-66 area was a level back in March to May where the price waffled above and below the level (see red circles in the daily chart below).

Looking at the hourly chart, the low also cut through a lower trend line but the price has risen back above that trend line. That trend line comes in at 110.90 currently (see red circles in the chart below). A move back below that level will be eyed now...

Stocks rebounding helped the pair move back higher. The S&P moved up to a high of 2351.21. The low reached 2336.45. We trade in between at 2345.24. The market seems to be sensitive the price action.

The US 10 year is trading down 2.5 bp to 2.3924 but it is off the low at 2.3727%. Still down though. It peaked at the 2.62% area on March 13th.

The price is testing that lower trend line as I finish up the post. So far, the level has held the support.

PS. Looking at the 5-minute chart, the 100 bar MA (blue line) has been a ceiling for the pair. The last two tests held. Earlier in the day, there were breaches but the rallied stalled before getting to the 200 bar MAs. The 100 bar MA and then 200 bar MA can be intraday close risk levels for shorts now.