USD/JPY chart - Trading View
USD/JPY extended previous session's slump, plunges below the 106 mark to hit 4-month lows at 105.44.
Yen attarcts safe haven bids amid escalating Sino-U.S. tensions and fears of coronavirus resurgence.
Skepticism over recovery in the U.S. keeps the dollar subdued. Data last week showed a recovery in the U.S. jobs marker unexpectedly stalled.
The US Federal Reserve's unprecedented money printing has pushed inflation-adjusted yields on Treasuries to negative territory.
Investors remain wary about the political deadlock over the next round of fiscal stimulus with a month-end deadline looming to extend some unemployment benefits.
USD/JPY trades with a strong bearish momentum and breach at 'Double Bottom' has potentially opened downside.
Rising volatility and bearish momentum to drag prices lower. Scope for test of Aug 2019 low at 104.44.
