USD/JPY: Clean break below 118.00

FXStreet (Bali) - As the Nikkei 225 continues to sell-off, currently down -1.92%, USD/JPY has accelerated its losses, breaking through 118.00 to set a new 4-week low at 117.74.

Jim Langlands, Founder at FXCharts, notes: "Beyond 118.00 could see USD/JPY head towards further strong support at 117.55 (61.8% of 115.18/121.84) and then to the next degree of Fibo support at 116.80 (23.6% of 100.75/121.84). If seen I would again consider it to be a decent medium term buying opportunity."