USD/JPY remains under some intense selling pressure amid intensifying safe-haven demand. Collapsing US bond yields, Fed rate cut speculations continued weighing heavily on the USD. Bears seemed rather unaffected by extremely oversold conditions ahead of the US jobs data. The USD/JPY pair tumbled to fresh six-month lows in the last hour, with bears now eyeing a sustained break below the key 105.00 psychological mark. The coronavirus outbreak continued stoking fears of a prolonged global economic slowdown, which provided a strong boost to the Japanese yen’s perceived safe-haven status and forced the pair to extend its relentless fall on the last trading day of the week. The bearish pressure remains unabated As the risk aversion intensified, the US Treasury bond yields witnessed an epic meltdown and were further pressurized by speculations of another 50bps Fed rate cut on March 18. This exerted some heavy pressure on the US dollar and collaborated to the pair’s ongoing fall to the lowest level since late-August. Friday’s downfall could further be attributed to some follow-through technical selling following the previous day’s sustained break below the 106.60 strong horizontal support. Meanwhile, bearish traders seemed rather unaffected by extremely oversold conditions on short/medium-term charts. Hence, some follow-through weakness, towards testing 2019 swing lows support near the 104.45 region, now looks a distinct possibility. Friday’s important release of the US monthly jobs report will now be looked upon for some immediate respite to the USD bulls and some short-term trading opportunities. Technical levels to watch 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/USD: Momentum remains positive FX Street 3 years USD/JPY remains under some intense selling pressure amid intensifying safe-haven demand. Collapsing US bond yields, Fed rate cut speculations continued weighing heavily on the USD. Bears seemed rather unaffected by extremely oversold conditions ahead of the US jobs data. The USD/JPY pair tumbled to fresh six-month lows in the last hour, with bears now eyeing a sustained break below the key 105.00 psychological mark. The coronavirus outbreak continued stoking fears of a prolonged global economic slowdown, which provided a strong boost to the Japanese yen's perceived safe-haven status and forced the pair to extend its relentless fall on the last… 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.