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USD/JPY falls to fresh 1-week lows

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    USD/JPY came under mild pressure at the Wall Street opening and dropped to fresh daily lows sub-113.00, as US yields continued to fall given the risk-off mood surrounding financial markets.

    USD/JPY fell back below 113.00 and slid to a low of 112.63 in recent dealings. At time of writing, the pair is trading at 112.65, recording a 0.68% loss on Tuesday.

    USD/JPY levels to consider


    As for technical levels, next supports are seen at 112.15 (Mar 1 low) and 111.88 (Feb 25 low). On the other hand, resistances could be found at 113.50 (Mar 8 high), 114.54 (Mar 2 high) and 115.05 (38.2& Fibo retracement of 121.68-110.97).
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