USDJPY makes another run at the 2017 low

New low, but not by much

The USDJPY has made another run toward the 2017 low at 107.31. This time, the low reached 107.402, taking out the earlier low for the day at 107.416. We trade back at 107.52. Not much momentum on the new low (see earlier post).

The 100 bar MA on the 5-minute chart is lagging behind and is at 107.607 now (and moving lower). If the price is able to get back above, that may be it for the shorts for now. Use that MA as a barometer for intraday bias.

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