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USD/JPY falls below 109.00

FXStreet (Córdoba) - The yen rose further across the board during the American session as stocks fell sharply in Wall Street and amid a decline in US government bond yields. USD/JPY hit a fresh low at 108.88 and remains under pressure near the lows.

The pair is having the worst performance since August 6. Earlier reached a multi-year high at 110.08 but then reversed sharply. From the highs it has fallen 120 pips.

USD/JPY technical outlook

According to Valeria Bednarik, Chief Analyst at FXStreet the 4-hour chart shows technical indicators “aim slightly higher after breaking below their midlines, with the overall tone still pointing for some more short slides, towards strong static support in the 108.50 price zone”.

EUR/USD technically bearish – FXStreet

Valeria Bednarik, chief analyst at FXStreet reviews the EUR/USD from a technical point of view on todays US session.
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