The American dollar is in sell-off mode as market players return from a long holiday, and USD/JPY trades around 102.90 after hitting 102.70, its lowest since March 2020. The pair is at risk of extending its decline, with investors eyeing 101.17, according to FXStreet’s Chief Analyst Valeria Bednarik. Key quotes “Immunization has slowly kick-started around the world, although the number of new cases and deaths is rapidly rising. Restrictive measures are already in place, and additional ones are being studied. In Japan, a curfew has been announced in Tokyo starting 8 pm, as bars and restaurants have been asked to close at that time, while people have been asked to stay in unless urgent needs.” “From a technical point of view, the USD/JPY pair is bearish. The 4-hour chart shows that the 20 SMA keeps accelerating south above the current level and below the larger ones. Technical indicators, in the meantime, remain near daily lows, paring their declines but far from suggesting an upcoming recovery.” “Further declines are expected on a break below the 102.70 daily low, with investors eyeing a test of the March 2020 low at 101.17.” 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 WTI erases majority of daily gains, closes in on $48 FX Street 11 months The American dollar is in sell-off mode as market players return from a long holiday, and USD/JPY trades around 102.90 after hitting 102.70, its lowest since March 2020. The pair is at risk of extending its decline, with investors eyeing 101.17, according to FXStreet's Chief Analyst Valeria Bednarik. Key quotes “Immunization has slowly kick-started around the world, although the number of new cases and deaths is rapidly rising. Restrictive measures are already in place, and additional ones are being studied. In Japan, a curfew has been announced in Tokyo starting 8 pm, as bars and restaurants have been asked to close… Top 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.
