The bounce fades: USD/JPY breaks to new lows
USD/JPY breaks the earlier low
USD/JPY has hit a fresh low since April 27 as it breaks the European low of 109.28 and edges beyond. It's been a rough day for the pair as the April-May rally continues to evaporate.
Greg highlighted some light support in the 109.18-22 zone below but it's thin down to 108.13, which was the April low.
Watch for stops.