Moves away from 200 hour MA
The USDJPY is dipping after the more dovish comments from Fed's Bullard (Fed should put off hikes to avoid yield curve inversion).
The pair is moving away from its 200 hour MA at 112.297. The pair is testing the 38.2% retracement at 112.09. Yesterday, the price dipped below the 200 hour MA and the 38.2% after the Trump comments about the dollar and the Fed, but rebounded quickly. The low reached 112.04. A move below that level will extend the range for the week (which is fairly narrow at 112 pips).
