USDJPY tests 200 bar MA on 4-hour and broken trend line

Should give traders pause for cause..

The USDJPY has corrected higher after the US data this morning. The correction has taken the price to the underside of the broken trend line AND the 200 bar MA on the 4-hour chart. The area should give traders cause for pause, with stops on a break higher.

The JPY pairs have been some of the weakest. 10 year yields are at 2.2395% off the low of 2.229% but still down -1.6 bps on the day. US stocks are still 10 or so minutes from the opening but are coming back a touch, but still down (but modestly).

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