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USD/JPY: Sellers taking back charge, threatens 107.00 again amid risk-off

  • Apple Inc.-led flash crash continues to shun investors from risk assets, safe-haven Yen tops the demand.
  • Thin liquidity triggers the biggest Yen surge in nearly a decade, further downside in play?

The USD/JPY pair remains heavily offered just ahead of the 107 handle in Thursday’s Asian training session, with every recovery attempt being sold-off near 107.85 region, as the demand for the safe-haven Yen remains at full steam amid widespread risk-aversion.

The S&P 500 futures drops 1.50%, denting the appetite for the risk assets so far this session, as the worries over a global economic slowdown heightened after a rare revenue warning from Apple Inc.

The news triggered a ‘flash crash’ in holiday-thinned currency markets that drove the safety bet Yen 420 pips higher versus its American counterpart to the 105 level in a matter of seconds.

Over the last hours, the spot did try to recover some ground, but the sellers continued to lurk near the upper bound of the 107 handle, as the declines in the US equity futures and oil prices continue to weigh on the investors” sentiment.

Meanwhile, markets remain cautious that the Bank of Japan (BoJ) could intervene in the fx markets after the biggest Yen surge in nearly 10 years. Attention now turns towards a fresh batch of economic releases from the US, with the key focus on the ADP jobs and ISM manufacturing PMI numbers for a fresh take on the US economy.

USD/JPY Technical Levels

USD/JPY

Overview:
    Today Last Price: 107.14
    Today Daily change: -1.9e+2 pips
    Today Daily change %: -1.78%
    Today Daily Open: 109.08
Trends:
    Previous Daily SMA20: 111.71
    Previous Daily SMA50: 112.6
    Previous Daily SMA100: 112.33
    Previous Daily SMA200: 111.08
Levels:
    Previous Daily High: 109.76
    Previous Daily Low: 108.71
    Previous Weekly High: 111.41
    Previous Weekly Low: 110
    Previous Monthly High: 113.83
    Previous Monthly Low: 109.55
    Previous Daily Fibonacci 38.2%: 109.11
    Previous Daily Fibonacci 61.8%: 109.36
    Previous Daily Pivot Point S1: 108.61
    Previous Daily Pivot Point S2: 108.13
    Previous Daily Pivot Point S3: 107.55
    Previous Daily Pivot Point R1: 109.66
    Previous Daily Pivot Point R2: 110.24
    Previous Daily Pivot Point R3: 110.72

 

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