The spot back in the red on 106.00, as market mood sours. Rising coronavirus cases globally accelerate the losses in US equity futures. Focus on US labor data and coronavirus updates, as risk-trends to dominate. The buying interest around the safe-haven yen picks up pace in the European session, knocking-off USD/JPY towards the weakest levels in five months seen at 106.86 after the US Federal Reserve (Fed) unexpectedly cut the interest rates by 50 bps last Tuesday. The latest leg down in the major is mainly triggered by a bout of fresh risk-aversion that gripped the markets after South Korea, Germany and India reported new coronavirus cases while Switzerland confirmed its first death. The European equities shaved-off the opening gap, now back into losses, as investors seek cover in the US Treasuries, which drags the benchmark 10-year Treasury yields back below the 1% key level. The S&P 500 futures also loses over 1.50%, at the time of writing. The fresh selling seen in the US dollar across the board also seems to add to the weight on the spot, with the US dollar index now shedding 0.18% to trade at daily lows of 97.14. Markets also remain wary over the rising number of virus cases in the US after California Governor declared a state of emergency on Wednesday. The focus now shifts towards the sentiment on Wall Street for the next direction in the pair. In the meantime, the US weekly jobless claims, unit labor cost and factory orders data will be eyed for some trading impetus. USD/JPY technical levels to consider FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Uncertain outlook for exports in Malaysia – UOB FX Street 3 years The spot back in the red on 106.00, as market mood sours. Rising coronavirus cases globally accelerate the losses in US equity futures. Focus on US labor data and coronavirus updates, as risk-trends to dominate. The buying interest around the safe-haven yen picks up pace in the European session, knocking-off USD/JPY towards the weakest levels in five months seen at 106.86 after the US Federal Reserve (Fed) unexpectedly cut the interest rates by 50 bps last Tuesday. The latest leg down in the major is mainly triggered by a bout of fresh risk-aversion that gripped the markets after South Korea, Germany and… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.