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21 Aug 2015
USD/JPY continues to slide, now test 122.00
FXStreet (Córdoba) - USD/JPY dropped further during the American session as stocks tumble in the US. Greenback reached fresh lows also versus the euro and the Swiss franc.
USD/JPY worst day since
The pair recently printed a fresh daily low at 122.00, hitting the lowest level since July 10 and remains under pressure, trading around 122.00. It is falling for the fourth day in a row and is headed toward the lowest daily close in a month. Below 122.00 the next relevant support is located around 121.50/70, and then 120.30 (July low).
Yen soars
Expectations about a rate hike latter than previously expected in the US, a sharp decline of main stock indexes in Wall Street and a recovery in Treasuries gave pushed USD/JPY to the downside during the American session.
The Japanese currency is the top performer supported by risk aversion. The Dow Jones is falling almost 2% and over 4% for the week. Crude oil is testing the $40 barrier after a short-lived recovery.
USD/JPY worst day since
The pair recently printed a fresh daily low at 122.00, hitting the lowest level since July 10 and remains under pressure, trading around 122.00. It is falling for the fourth day in a row and is headed toward the lowest daily close in a month. Below 122.00 the next relevant support is located around 121.50/70, and then 120.30 (July low).
Yen soars
Expectations about a rate hike latter than previously expected in the US, a sharp decline of main stock indexes in Wall Street and a recovery in Treasuries gave pushed USD/JPY to the downside during the American session.
The Japanese currency is the top performer supported by risk aversion. The Dow Jones is falling almost 2% and over 4% for the week. Crude oil is testing the $40 barrier after a short-lived recovery.