FxWirePro: USD/JPY slips below 104 handle, risk-off amid Sino-American tensions and coronavirus vaccine doubts weigh
FxWirePro: USD/JPY on the defensive, inches closer to 104 handle
USD/JPY chart - Trading View
USD/JPY was trading 0.12% lower on the day at 104.29 at around 08:45 GMT, outlook remains bearish.
The pair looks set to extend weakness and drop below 104 handle could plummet prices.
Spiraling Corona virus cases and lack of progress in the US stimulus talks keep downside pressure.
Rising political uncertainty and tensions are weighing on markets. Technical studies also support weakness in the pair.
GMMA indicator show major and minor trend are bearish. Price action is below cloud. ADX and MACD support downside.
Volatility is rising. Scope for test of trendline support at 104 level. Break below will open up downside for the pair.