Our long-term US Dollar-Japanese Yen bearish bias remains to the downside, and today’s break of key trendline and 200-day Simpe Moving Average support likewise leads us to believe that the USDJPY may see further losses through short-term trading.
Closing below the 200-day SMA at 106.44 reinforces this bias, and short-term targets would be set at previous spike-lows at 103.77. Discuss your own opinion of the USDJPY in our Forex Forum.