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USD/JPY extends decline to 108.10

FXStreet (San Francisco) - The USD/JPY is extending its decline from 108.90 and after falling 80 pips the pair is now testing lows since September 17 at 108.10 amid risk aversion and sell-off in stocks.

Currently, USD/JPY is trading at 108.15, down 0.68% on the day, having posted a daily high at 109.13 and low at 108.08. The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bearish.

USD/JPY sentiment

"We've broken support at 108.25 and eyeing a minor fibo at 108.07, the 23.6% retracement of the 101.46/110.10 rally," comments Jamie Coleman from FXBeat. "A break of that level 107.35/40 support in the frame.

On the upside, 108.25, 108.80 and 109.00 are resistances.

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