As stocks rose and yields fell, the US dollar weakened. USDJPY is back below the 200-day moving average at 13 .506. A break below today’s level would be the first time the pair has closed below it since February 23, 2021. USDJPY rose after a stronger than expected jobs report. However, the momentum subsided near the 38.2% increase in the weekly trading range. This level is 136,009. The high is 135,997. Since then, the price has declined and has now moved back below the 200-day moving average of 13 .35. At the beginning of the day, the lowest price was 133.611. This is the next goal where the tempo continues to drop. Below that, the 50% midpoint of the 2022 trading range intersects at 132.70, followed by a range from 131.2 to 131. 83. This range corresponds to the highs and lows of growth in April, May and June (see the red numbered circles in the daily chart below).