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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.

USD/JPY sell off

Additonal Levels

USD/JPY

Overview
Today last price106.35
Today Daily Change-1.16
Today Daily Change %-1.08
Today daily open107.51
 
Trends
Daily SMA20109.79
Daily SMA50109.48
Daily SMA100109.19
Daily SMA200108.38
 
Levels
Previous Daily High107.69
Previous Daily Low106.85
Previous Weekly High111.68
Previous Weekly Low107.51
Previous Monthly High112.23
Previous Monthly Low107.51
Daily Fibonacci 38.2%107.37
Daily Fibonacci 61.8%107.17
Daily Pivot Point S1107.01
Daily Pivot Point S2106.51
Daily Pivot Point S3106.17
Daily Pivot Point R1107.85
Daily Pivot Point R2108.19
Daily Pivot Point R3108.69

Author

Rajan Dhall, MSTA

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

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