what is happening ?
USD/JPY breaks down as stocks fall into negative territory
A sour tone has gripped the stock market despite the upbeat initial jobless claims numbers. A second look at the retail sales data showed some reasons for worry and USD/JPY was quickly rejected from 102.80. Stops were hit on the break below 102.40 with the pair sinking to 102.32. Importers are said to be bidders down to 102.20. There’s more demand close to 102.00.