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USD/JPY plummets through the magic 120.00 level

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - USD/JPY keeps printing new lows at time of writing with a big risk-off theme coming into play at the start of 2016.

    Volatility was always on the cards and the greenback is starting to reverse the gains on the board, most evident in the Yen although the pound is stabilizing and the euro correcting also. However, the antipodeans are not having a good time of the risk-off mood either and are at the lows vs the greenback still after the Chinese data induced run for cover kicked din when the Caixan manufacturing yet again disappointed by some margin.

    USD/JPY levels

    Technically, a break of the psychological 120 handle and daily closes will leave the downside exposed towards the 119.11 2012-2015 uptrend.
    ahead of the uptrend at 118.11.
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