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Forex pairs in this Article » USD/JPY (Córdoba) - The USD/JPY extended its sharp decline and hit fresh lows at the 102.00 area as the Nikkei futures continue to slump.

Against a risk-off backdrop, the USD/JPY weakened further and triggered stops on the break of 102.50, accelerating to a fresh low of 101.99 before bouncing slightly. At time of writing, the USD/JPY is trading at the 102.10 area, recording a 1.1% loss on the day.

USD/JPY headed to 101.60

According to Stoyan Mihaylov, analyst at, yesterday's break through 103.85 triggered a massive sell-off that could extend towards 101.60. "Initial intraday resistance is projected at 103.50".
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