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.

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
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.
-637190300375465393.png&w=1536&q=95)

















