Search ForexCrunch
  • USD/JPY trades over 1% lower on the session as the risk environment turns sour.
  • The price is now testing the 76.4% Fibonacci retracement level.

USD/JPY Daily Chart

USD/JPY has really pushed lower today after a strong bout of risk aversion.

Now the pair is over 1% lower and has dropped to levels not seen since September last year.

The 76.4% Fib zone is providing some support but much of the move is fundamentally based.

If there is a conclusive close below that level then the wave low of 104.84 could be tested.

Stocks have also pulled back and gold has shot higher confirming the move into risk-off assets.

USD/JPY sell off

Additonal Levels