USD/JPY Price Analysis: There is a strong risk off move into the safe haven JPY currency

USD/JPY trades over 1% lower on the session as the risk environment turns sour.
The price is now testing the 76.4% Fibonacci retracement level.

Rajan Dhall, MSTA FX Daily

USD/JPY Daily Chart

USD/JPY has really pushed lower today after a strong bout of risk aversion.

Now the pair is over 1% lower and has dropped to levels not seen since September last year.

The 76.4% Fib zone is providing some support but much of the move is fundamentally based.

If there is a conclusive close below that level then the wave low of 104.84 could be tested.

Stocks have also pulled back and gold has shot higher confirming the move into risk-off assets.

Additonal Levels

USD/JPY

Overview
Today last price	106.35
Today Daily Change	-1.16
Today Daily Change %	-1.08
Today daily open	107.51

Trends
Daily SMA20	109.79
Daily SMA50	109.48
Daily SMA100	109.19
Daily SMA200	108.38

Levels
Previous Daily High	107.69
Previous Daily Low	106.85
Previous Weekly High	111.68
Previous Weekly Low	107.51
Previous Monthly High	112.23
Previous Monthly Low	107.51
Daily Fibonacci 38.2%	107.37
Daily Fibonacci 61.8%	107.17
Daily Pivot Point S1	107.01
Daily Pivot Point S2	106.51
Daily Pivot Point S3	106.17
Daily Pivot Point R1	107.85
Daily Pivot Point R2	108.19
Daily Pivot Point R3	108.69

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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GBP/USD off highs, recedes to the sub-1.3500 area

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Gold climbs to weekly tops, approaches $5,100/oz

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