Chart of the day: USD/JPY

Blake Morrow Forex Analytix

The USDJPY is nearing the 109.00 level support and the risk is building for a breakdown below this level. A move below support is at risk as the ZN (US 10yr bond) is back above the 200dma today and yields are slumping. A move to the 108.65 then 108.12 level is possible or at least to 108.25 which would be channel support.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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