- Concerns about the new COVID variant triggers sell off across financial markets.
- Japanese yen among top performers boosted by risk aversion and lower US yields
The USD/JPY is falling sharply on Friday, having the worst day in months after fears over a new COVID-19 variant trigger sharp declines across financial markets. The pair is losing more than 200 pips, trading around 113.30/40, the lowest level since November 10.
The pair opened the slightly below 115.50 and near multi-year highs but then it started to move lower and accelerated again during US hours boosted by risk aversion.
In Wall Street, the Dow Jones is losing 2.60% and the Nasdaq 1.65%. In Europe main indices lost more than 3%. The announcement of travel restriction from Africa to Europe weighed damaged considerably market sentiment boosting the demand for safe-haven assets.
US yields tumbled favoring even more the Japanese yen. The US 10-year that a few sessions ago was flirting with 1.70% is testing 1.50%, the 30-year yield dropped from above 2% to 1.85%.
If USD/JPY consolidates below 113.40, more losses seem likely. The next support level is seen around 113.20 that protects 113.00. Below attention would turn to the November low at 112.70.
|Today last price||113.72|
|Today Daily Change||-1.64|
|Today Daily Change %||-1.42|
|Today daily open||115.36|
|Previous Daily High||115.46|
|Previous Daily Low||115.24|
|Previous Weekly High||114.97|
|Previous Weekly Low||113.59|
|Previous Monthly High||114.7|
|Previous Monthly Low||110.82|
|Daily Fibonacci 38.2%||115.33|
|Daily Fibonacci 61.8%||115.38|
|Daily Pivot Point S1||115.25|
|Daily Pivot Point S2||115.14|
|Daily Pivot Point S3||115.04|
|Daily Pivot Point R1||115.47|
|Daily Pivot Point R2||115.57|
|Daily Pivot Point R3||115.68|
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