With Nvidia lower in after-hours trading and the e-mini S&P lower, the USDJPY is also dipping to the downside, and the process, is moving away from 100-hour moving average (blue line on the chart below) at 144.66 along with a 50% midpoint of the move up from the 2023 low which comes in at 144.58. Those levels will now be close risk-defining levels for sellers who remain in control. If the price cannot extend back above those levels, the sellers are ruling.A close support comes in at 144.03. Get below it, and 144.00 and there should be more downside momentum. This article was written by Greg Michalowski at www.forexlive.com.
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