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USD/JPY sees scope on the downside

Tuesday, March 24, 2015 9:38 AM UTC

Possibility stays on the downside, 119.50 Japanese bids are filled
Hourly close below the 119.48 pivot point, risk seen at 119.00 with clustered sell stops
Daily close below 119.68 - 38.2% retrace of 115.85-122.04 - will dampen
Narrowing 5year UST/JGB yield spread; 30-day log correlation +0.70 with spot

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USD/JPY sees scope on the downside

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