but finds support at the 120.41 area (July low)
The USDJPY for the 2nd day in a row, failed on a break above the 200 day moving average and the 50% retracement at the 120.80 and 120.68 levels, respectively. However, in the London/New York session,the 120.41 level has been able to hold support (at least on the test – the low reached 120.448) The price is currently sitting between the 200 day moving average at 120.80 and the 120.41 level. So a mini battle is in progress. Look for a break and run.