USD/JPY seeping lower
The durable goods orders data was USD-supportive but dollar-yen continues to edge lower.
The pair is at the lows of the day, down 66 pips to 91.32. Yesterday’s low of 91.12 and Monday’s spike low of 90.86 are the key chart levels.
The orderboard shows strong demand at 90.20 with more a few pips ahead of 90.00 and stops below. More bids from Monday’s low down to 90.75.
As I said yesterday, the inability to bounce yesterday and today is a negative sign for USD/JPY and the yen crosses.