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USD/JPY bears relentless, heahded for 112.00?

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USD/JPY is currently breaking down yet again and this time taking out the 113 handle with 112 in the sights of the bears. Gold, at the same time, has taken out the key $1,200 and risk aversion is rife.

    Investors do not like the patch up work coming out of the Central Banks rhetoric and are seeing through the cracks, concerned of the worst and this is driving extreme risk off conditions. The greenback is sold off across the board as well. Yellen was overly optimistic but the markets do not seem to be buying any of it.

    USD/JPY levels

    Technically, 112.56 is next key objective as 30th October 2014 high. There is little in the way however of a full blown rally down to 1.1000 where support is expected to be strong. RSI is now in oversold territory at 27 on the 4hr chart.
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