Hangs around risk defining level…
The USDJPY is in a waiting game.
Weaker US data sent the price lower today but it quickly moved up, then back down, then up again. That has been the how the price action has been acting over most of the trading today and this week (see chart above). The price range over the ups and downs since yesterday has been 67 pips. There has been plenty of runs to the upside and runs back down.