USD/JPY slips, even as the S&P 500 hits a fresh high for the day

USD/JPY nears session low

There’s a minor divergence underway today with stocks rising and USD/JPY falling.

The S&P 500 is up 23 points and testing Friday’s intraday high of 2680. Meanwhile, USD/JPY is a couple pips above the session low of 107.13.

Expect one to break and the other to reverse in the short term.

Update: the S&P 500 just broke Friday’s high

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