The USDJPY has continued to slide post the ISM data and is down testing the 100 and 200 hour MA. The 100 hour MA comes in at the 120.09. The 200 hour MA comes in at 120.03. The 38.2% of the move up from the low on Tuesday comes in at 120.01. If the buyers are to enter, this would be a risk defining area to stick the toe in the water. A move below the 120.00 level may prove to be a disappointment though. Key early test for the new year bulls.
USDJPY tests MA and retracement support.