Iridium
Short

USDJPY BREAKS KEY SUPPORT LEVELS

FX:USDJPY   U.S. Dollar / Japanese Yen
17 0 0
USDJPY             BROKE MANY KEY TECHNICALS THROUGH LONDON TRADING LAST NITE. THE BOE LEFT RATES UNCHANGED AT .50% WHILE KEEPING ITS ASSET PURCHASES STEADY AS EXPECTED. USDJPY             BROKE A BEARISH HEAD AND SHOLDERS THROUGH LONDON TRADING AND ALSO BROKE THROUGH THE PARALLEL TREND LINE . ALL THAT BEING SAID UNEMPLOYMENT DATA IS DUE TODAY AT 8:30, THE MAIN QUESTION AT HAND HERE AS FED CHAIR YELLEN HAS REITERATED IS LABOR FORCE PARTICIPATION IE (LABOR SLACK). THE LABOR FORCE PARTICIPATION TREND HAS BEEN ON THE DECLINE SO I DONT SEE ANY REVERSAL ANYTIME SOON. LOOK FOR THE YEN TO CONTINUE ITS SLID THROUGH NY TRADING. http://data.bls.gov/pdq/SurveyOutputServlet CHART FOR LABOR PARTICIPATION
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