Forex technical analysis: USDJPY breaks the support level

Key 200 dya MA looms below

The USDJPY has cracked outside the 10 day narrow trading range below the 112.208 level and the price has scooted lower (see earlier post). The 38.2% of the move up from the Sept 15 low comes in at 111.94. The key 200 day MA at 111.83 is below that level. I would expect a pause at the level on a test.

US yields have moves lower with the 10 year down about -3.2 bp to 2.3266%. The high today was near 2.37%. The decline in yields are helping to weaken the pair.