Breaking: USD/JPY crashes to multi-year low near 101.50, risk-off tightens grip


USD/JPY saw an aggressive selling wave in the last minutes, as the risk-off sentiment intensified, with the bears quickly eroded over 150-pips.

The spot collapsed to the lowest levels seen since November 2016 at 101.62, acelerating the declines from near 103.40 region.

At the press time, the pair has quickly bounced back above the 102 handle but the further upside remains elusive amid a 5% drop in S&P 500 futures, the slump in oil prices and almost 6% slide in the Japanese equities. Rest of Asia also remains in a sea of red. 

Just as the USD/JPY pair crashed, a fresh selling wave gripped the fx board amid broad US dollar slump, with AUD/USD smashed to a new 11-year low of 0.6320, the Kiwi almost tested 0.6000 while EUR/USD broke past the 1.14 handle. Meanwhile, USD/CAD saw a momentary spike above 1.3750.

The relentless rise in the coronavirus cases across the globe kills the appetite for the risk assets, as gold holds fort above $1700. 

USD/JPY Technical levels to watch

USD/JPY

Overview
Today last price 102.39
Today Daily Change -2.20
Today Daily Change % -2.09
Today daily open 105.5
 
Trends
Daily SMA20 109.38
Daily SMA50 109.32
Daily SMA100 109.14
Daily SMA200 108.35
 
Levels
Previous Daily High 106.34
Previous Daily Low 105
Previous Weekly High 108.58
Previous Weekly Low 105
Previous Monthly High 112.23
Previous Monthly Low 107.51
Daily Fibonacci 38.2% 105.51
Daily Fibonacci 61.8% 105.83
Daily Pivot Point S1 104.88
Daily Pivot Point S2 104.26
Daily Pivot Point S3 103.53
Daily Pivot Point R1 106.23
Daily Pivot Point R2 106.96
Daily Pivot Point R3 107.58

 

 

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