During most of the past week, USD/JPY continued its steep plunge as diminished expectations of further interest rate hikes by the US Federal Reserve weighed on the dollar, and turbulent stock markets around the world pushed up the safe haven Japanese yen. This resulted in swift breakdowns below successively lower support levels this past week, including the key 116.00 and 114.00 levels. Pressure on the dollar due to diminished expectations of future Fed monetary tightening is not likely to abate in the very near future. Likewise, heightened fear and volatility in the.....
