USD/JPY Falling Back on Risk Aversion and Negative Stocks
USD/JPY Falling Back on Risk Aversion and Negative Stocks
USD/JPY
has been one pair that the greenback has been able to take control of
to some extent. However, the bulls commitments are now being tested at
the 109 handle with a recent low of 109.03 with the 20 sma under
pressure as well at 109.12.
We have some risk aversion coming in
on the last hourly sticks across the board and oil seems to have
reached a peak for the session at $41.56, currently tailing off to
$40.80 and gold was picking up the pace up to $1,257 highs in the open
of the U.S. shift. AUD/JPY is now making fresh lows of 84.99 and
pressure continues.
The greenback has been under pressure right
across the board except by the Yen. However, stocks are now coming off
and all three indicies on Wall Street are in the red for the first time
in the session.
USD/JPY levels
USD/JPY
bears have the 100 sma on the hourly sticks in their sights, located at
109.00 and a break there supported by stocks in decline opens up the
pivot at 108.55 and S1 at 108.11 thereafter. For the upside, the price
needs to get above 110.00 and a break of 5th April lows to alleviate
bearish pressures in the broader theme.
