- 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.
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.
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Additonal Levels
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