USD/JPY surrendered its intraday advance and slid toward the session low as selling in US equities pushed traders into the yen. The pair sat at 102.46 after peaking at 102.93 in the wake of the ISM non-manufacturing release.
Falling US stock prices drove money into the Japanese yen, and USD/JPY dropped to 102.46, the low of the day. The pair had earlier climbed as high as 102.93 after the ISM non-manufacturing data landed, then gave the move back.
Equity weakness sparked the flight into the yen. As the selling in stocks continued, the dollar could not hold its post-data gains against it.
The chart marks the levels below. Support sits at 102.41, Monday's low, with Friday's low of 102.34 marking the next support beneath it.
Source: investingLive
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