The nerves are starting to show as USD/JPY bulls are taking some off the top now. The pair is closing in on some minor short-term support just above the 151.00 mark for now:
The drop also sees the pair slip under its 100-hour moving average (red line) of 151.43. That now sees the near-term bias shift to being more neutral.
It all hinges on Kanda’s remarks coming up next. And I shared some thoughts on that here.
This article was written by Justin Low at www.forexlive.com.