Amid the lack of change in the major currencies space, this is one of the only notable pieces of action in trading so far today. 10-year Treasury yields are also pretty much flat again on the day, relieving USD/JPY buyers of their impetus at the moment. The pair ran up to test its 200-hour moving average (blue line) earlier but for now, sellers are holding the line.
As such, the near-term bias stays more neutral after the developments from yesterday - in which we saw price climb back above 135.00 and its 200-day moving average, as well as the 100-hour moving average (red line) above.
For now, price action is caught in a near-term tussle in determining the next directional bias before we look at the bigger picture levels on either side again.
The dollar remains little changed overall today, trading within 0.1% against other major currencies with only AUD/USD up 0.3% to 0.6720 - owing to the RBA policy decision earlier in the day.
