GDP sends the pair lower
What a Friday double-whammy for USD/JPY. The BOJ's bazooka misfired and so did the US economy as GDP disappointed.
A few hours before GDP, the pair was at 105.50 and it's trading at 102.72 now. The pair is sitting right on the session lows in a sign that no one is willing to catch the falling knife and I suspect it will close on the weekly lows as well.
Technically, the break of the 61.8% retracement of the July rally points to a fell retracement to 100.00.
