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USD/JPY printed session lows below the 200-day MA of 111.38 soon before press time and a deeper drop toward key trendline support at 111.06 could be in the offing on evidence of worsening risk aversion.  

As of writing, the Shanghai Composite index is trading almost 3 percent lower on the day. Japan’s Nikkei is now reporting a 2 percent drop vs 0.8 percent loss seen before the release of the dismal China trade data.  

4-hour chart

Trend: Bearish

USD/JPY

Overview:
       Today Last Price:  111.38
       Today Daily change: -25  pips
       Today Daily change %:  -0.22%
       Today Daily Open:  111.63
Trends:
       Daily SMA20:  110.95
       Daily SMA50:  109.89
       Daily SMA100:  111.36
       Daily SMA200:  111.39
Levels:
       Previous Daily High:  111.86
       Previous Daily Low:  111.48
       Previous Weekly High:  112.08
       Previous Weekly Low:  110.35
       Previous Monthly High:  111.5
       Previous Monthly Low:  108.73
       Daily Fibonacci 38.2%:  111.63
       Daily Fibonacci 61.8%:  111.72
       Daily Pivot Point S1:  111.45
       Daily Pivot Point S2:  111.28
       Daily Pivot Point S3:  111.07
       Daily Pivot Point R1:  111.83
       Daily Pivot Point R2:  112.04
       Daily Pivot Point R3:  112.21