Sneaking a peak below support before data
The USDJPY is taking a sneak peak below what has been a floor area going back to February. That area is in the 118.22-508 region. There have been 6 or so swing lows in this area during that time. In August, traders ventured below that area on the day the Dow was down 1000 at the opening. It quickly rebounded an the very next day, the floor was reestablished.