That is arguably the one notable mover on the session to this point. USD/JPY is progressively falling as 10-year Treasury yields are additionally seen down practically 4 bps to 4.26% on the day. The pair is now down roughly 50 pips to 150.20 as sellers look to grab near-term management:

The hourly chart reveals that patrons have been holding a slight protection on the 100 (pink line) and 200-hour (blue line) transferring averages because the finish of final week. However in a swift decline at present, each these ranges are being threatened to be damaged now.

That may see the near-term bias change to being extra bearish, though massive expiries and bids close to the 150.00 mark would possibly hold the autumn extra contained for now.

Moreover that, there’s some minor assist round 149.70-80 to assist patrons out somewhat extra. However past that, the pair is perhaps on the lookout for a steeper fall.

It can rely on the bond market developments after all, firstly. However do understand that merchants is perhaps seeking to value in coverage tightening measures by the BOJ, particularly after the Japan inflation information earlier at present right here.