USDJPY dips to swing levels/200 hour MA

The 100 hour MA and broken trend line at 111.55 is upside target

The USDJPY has dipped after the US employment report.

The jobs data has moved stocks back toward unchanged/negative levels. Meanwhile US yields have moved a little more negative with the 10 year down -1.3 bps

The USDJPYs price has moved to a swing area at 111.36-40. The 200 hour MA at 111.30 remains a downside target. Yesterday the low reached 111.305. So if the dollar is to continue to go lower, that 111.30 level needs to be broken.

On the topside,, the pair was trading around the 100 hour MA and trend line just before the release. That is a bullish above/bearish below barometer for the day. Move above at 111.55 and the shorts will likely give up (and reverse).

The price is dipping to new lows as I type but still just above the 111.30 level. I am also afraid that the stocks and bond markets will play a role today. There is still 21 minutes left until the opening.