Can support hold now hold at 116.97-117.04?
The markets remain choppy on the ambiguous report. Some strength. Some weaker stuff. That has the market going back and forth.
The USDJPY just made new session highs and it comes back down. The pair printed a low at 117.047 on Wednesday. The highs from the Asia-Pacific session reached 116.97. The price is currently testing that area. If support holds, the buyers can try and do better going forward. If it gives way a test of the days midpoint at 116.84 is probably most likely. And traders go from there
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