S&P 500 and USD/JPY at inflection points

These are the two lines that need to hold

The 61.8% retracement of the S&P 500 rebound that started late last week is at 1915. If that breaks there is a good chance we go all the way back to the lows.

In USD/JPY, the 119.60/53 zone of support is key. It's not only the low today but it's also the 38.2% retracement of the rebound. Bounces have been shallow in this pair.

In my opinion both are setting up for declines in the final hour of US trading but I wouldn't but on it until those levels break.