Forex Trading: USDJPY Moves Lower On Higher Trade Deficit

The higher US Trade Deficit has led to a fall in the USDJPY.  The price has moved below the trendline support and the 100 hour MA at the 89.53 level. These levels will now become upside resistance levels for the pair. Yesterday’s low was 89.15.  This will be a target on the downside for the pair.  It also was low levels from Monday’s trade as well (89.13 was the low on Monday).