The USDJPY dips on the weaker durables

Tests the 38.2% and recent lows

The USDJPY has dipped to new session lows after the weaker durable goods orders. The price fell to 111.887. That is right on the 38.2% of the move up from the September 2017 low at 111.895. It is also near the low from Monday at 111.879 and the low from last Friday at 111.94. Key level. If it is broken, the bears take another step but there is the 200 and 100 day MAs to contend with at 111.718 and 111.685. So a break is more bearish but be aware of more support.

The first fall has found the buyers. The price has traded back up to 112.000. Looking at the 5 minute chart a move back above the 100 bar MA at 112.077 will be the minimum to turn the technical picture more around. Failure to do that and the downside support targets will be pushed.