Technical Analysis

USD/JPY extends lower as sellers regain near-term control

USD/JPY falls to a session low after breaching the key hourly moving averages

ForexLive

I’m not seeing anything in Kuroda’s comments to really drive the move lower here but it could be something to do with a quick dip in E-minis, which erased about 0.2% gains earlier:

E-minis 25-04

But looking at the currency pair itself, USD/JPY is now holding below the key hourly moving averages and that puts sellers back in near-term control of the pair. For now, there is support seen around 111.65-75 but the key level to watch out for will be further support near 111.50 – where the 200-day moving average resides.

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