Stocks go negative but bouncing a little now
The USDJPY tested the days lows as the US stock market was reaching its new day lows (S&P low reached 1932.92 – currently trading at 1942.50). The low for the day came in the early Asia-Pacific session at the 117.42 level. The low just printed 117.44. The price has quickly rebounded to the 117.72 level as stocks also are rebounded. The pair is following the moves of stocks. Get used to it.
Forex technical analysis: USDJPY tests day lows with stock declines. Bounces with the equity bounce.
