The key catalyst for the dive lower this week was a more dovish Fed. That also led to a big rally in bonds, with 10-year yields still trading under 4% at 3.95% on the day currently. In turn, that translated to a break lower in USD/JPY below its 200-day moving average (blue line) and that puts sellers in the driver's seat.The downside break is being maintained today, even if price action is a little more flattish overall for the dollar heading into European trading.The gist of it is that if USD/JPY keeps below the 200-day moving average, then sellers are in control and may potentially look towards a push to 140.00 next. The onus is on buyers to try and break back above the key technical level
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