USD/JPY extends the decline

FXstreet.com (Córdoba) – Following a short-lived recovery attempt, the USD/JPY resumed the downside and fell to a fresh 1-week low, as risk aversion amid Syria woes continues to underpin the JPY as a safe-haven currency.

USD falls more than 1% against the JPY

USD/JPY attempted to recover, but the 97.50 zone capped the pair, sending it to fresh lows at the 97.13 zone, roughly the same level it bottomed out Aug 21. At time of writing, USD/JPY is trading around 97.25/30 where it is still 1.2% below its opening price.

USD/JPY levels to watch

In terms of technical levels, if USD/JPY breaks below …read more