USD/JPY chart - Trading View
USD/JPY was trading 0.04% lower on the day at 103.70 at around 06:35 GMT.
The pair was rejected at daily cloud resistance and has retraced below 55-EMA.
Price has dipped below 21-EMA at 103.64 to hit session lows at 103.52. Close below 21-EMA will see further weakness.
Broad-based USD selling brought the pair lower on Tuesday's trade after the latest treasury auction saw yield prices unchanged prompting investors to review the recent upturn.
US Treasury yields have been a key driver through the last week and investors will closely track changing yield values for impetus.
Major technical bias is bearish. Upside was rejected at 55-EMA and daily cloud, reinforcing downside. Scope for retest of trendline support at 102.55.
