The 110.96-111.00 eyed

The USDJPY has moved to new session lows and in the process is breaking below a lower trend line on the hourly chart. The pair targets the 110.96-111.00 level (61.8% of the move up from the June 2017 low and natural support). See earlier post.

US yields are lower today with the 10 year yield lower by 2 bp. US stocks are lower. Gold is higher.

Technically, the USDJPY is also moving away from a cluster of technical levels including the 200 and 100 day MAs (at 112.03 and 111.688 respectively). That is more bearish.