USD/JPY refreshes the lowest levels since March 12 while standing on the slippery near 104.20. Failures to bounce off 38.2% Fibonacci retracement, bearish MACD keep the sellers hopeful. Bulls need a clear break above 106.10 before regaining the controls. USD/JPY prints half a percent loss while declining to 104.20 during the early Friday’s fall. The pair marks the seventh consecutive day of losses after declining below 50% Fibonacci retracement level of February-March downside. The south-run gains clues from the broad risk-off as well as the US dollar’s fresh fall to 26.5-month low. Additionally, bearish MACD adds strength to the pair sellers’ outlook. While considering the aforementioned catalysts, the USD/JPY prices are dropping fast towards 104.00 round-figures before attacking a downward sloping trend line from April 01, at 103.65 now. The 23.6% Fibonacci retracement level of 103.75 and March 10 low of 102.70 are extra filters to the pair’s further declines. Alternatively, 38.2% Fibonacci retracement level near 105.40 and June month’s low around 106.10 could restrict the quote’s near-term advances ahead of 50% Fibonacci retracement level of 106.70. USD/JPY daily chart Trend: Bearish 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 US Treasury Sec. Mnuchin: Negotiators made progress, still far apart on other issues FX Street 3 years USD/JPY refreshes the lowest levels since March 12 while standing on the slippery near 104.20. Failures to bounce off 38.2% Fibonacci retracement, bearish MACD keep the sellers hopeful. Bulls need a clear break above 106.10 before regaining the controls. USD/JPY prints half a percent loss while declining to 104.20 during the early Friday’s fall. The pair marks the seventh consecutive day of losses after declining below 50% Fibonacci retracement level of February-March downside. The south-run gains clues from the broad risk-off as well as the US dollar’s fresh fall to 26.5-month low. Additionally, bearish MACD adds strength to the pair… 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.
