USD/JPY continues to tumble, it's a slippery slope from here towards 105.00

Technical Analysis

Author: Justin Low | usdjpy

Broad dollar weakness sends the pair to a low of 107.01


Stops triggered, but there's not much holding sellers from driving the price lower at this point. We've broken below the September lows, and as Eamonn pointed out here we've hit lows not seen since November 2016.

The general move was triggered by broad dollar weakness, and that has given USD/JPY bears an added incentive to send the pair lower on the day. At the moment, the 107.00 figure level is holding up a little, but with this kind of momentum, it's hard to stand in the way of a drop further.

The drop is also triggering further risk aversion across markets. US 10-year yields are now down to lows of 2.8077% on the day, as Treasuries are more bid on the day.

It's blink and you miss it kind of price action. Good stuff.

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