USD/JPY holds at 111.00 so far
USD/JPY touched a fresh low but has held 111.00 so far and bounced a dozen pips.
But a look a the daily chart paints an ugly picture. Support have given way and there is no support until the 50% retracement and 110.00. Bigger support is near 108.00 and the 200-day moving average.
If those don't hold, it's a one-way street down to the election-night lows.
As ugly as it looks, I don't think it's time to worry yet. But it will be time to worry if the 10-year doesn't hold the 2017 lows.
