The last couple weeks the USDJPY has held above the 109.00 level which is also "channel support" and also the 50dma. However, with the recent breakdown in bond yields the risk is increasing the USDJPY (and other XXXJPY pairs like the CADJPY and EURJPY) make a move lower. A break below the 109.00 level could put the 108.30 in view rather quickly.

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