Yen consolidates important gains across the board supported by risk aversion and lower US yields. USD/JPY down a hundred pips, printed fresh low monthly low at 108.11. The USD/JPY pair continued to slide during the American session on the back of risk aversion and dropped to 108.11, the lowest since April 23. It rebounded modestly and near the end it was trading at 108.40/45, down a hundred pips, posting the fifth daily loss out of the last six trading day. The DOW JONES dropped further and it was losing 1.92%, down almost 500 points. At the same time, US yields reached fresh lows. Risk aversion and lower US yields boosted the demand for the yen. Also during the last hours, the Swiss franc gained momentum. Italian politics triggered the negative tone. The situation in Italy remains unclear and new headlines are expected tomorrow. On Wednesday, data to be released in Japan includes retail trade and consumer confidence. Also, Governor Kuroda will deliver a speech. In the US, the ADP employment report and Q1 GDP are due. USD/JPY Technical outlook “An attempt to recover the upside met selling interest at 109.10, with the pair now barely holding above the mentioned daily low, and technically bearish according to intraday readings”, says Valeria Bednarik, Chief Analyst at FXStreet. According to her, the 4 hours chart, showed the pair accelerating well below the 100 and 200 SMA, while technical indicators resumed their declines and reached fresh 1-week lows, heading into the Asian opening with a strong downward momentum. “The 100 DMA stands at 107.70, a probable bearish target for the upcoming sessions should risk sentiment continues.” 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 EUR/GBP Technical Analysis: Bears in control, looking for a breakout below the 0.8700 handle FX Street 5 years Yen consolidates important gains across the board supported by risk aversion and lower US yields. USD/JPY down a hundred pips, printed fresh low monthly low at 108.11. The USD/JPY pair continued to slide during the American session on the back of risk aversion and dropped to 108.11, the lowest since April 23. It rebounded modestly and near the end it was trading at 108.40/45, down a hundred pips, posting the fifth daily loss out of the last six trading day. The DOW JONES dropped further and it was losing 1.92%, down almost 500 points. At the same time, US yields… 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.
