USDJPY further downside exposed

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

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    USDJPY has tanked breaking important patterns and supports clearly showing risk-off sentiment. Purely risk off sentiment across markets is the cause for Yen to appreciate against the G10 currencies. Many carry trades involving cheap credit from Japan are invested across foreign markets, and during risk-off, many of those trades are reversed and repatriated back into Yen, causing demand for Yen. Technically USDJPY still has the room to fall down. As we can see on the chart, bear pennant has

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