Higher swing lows from the last two days
The USDJPY is down testing (and even making) new lows for the day. The low just reached 111.962. The Asian session low was at 111.98. A swing low from yesterday came in at 111.966.
Now there was a lower low this week at 111.82 and that may be tested on a break right here, but this level is giving a cause for pause right here.
We moved up. We moved down. We are at the down.