USD/JPY breaks into new bear trend lows

FXStreet (Bali) - USD/JPY is being pounded mercilessly, now making new bear trend lows below 121.25, hitting its lowest since July 10th at 121.17 as the China's Shanghai Composite gets annihilated by over 5% once gain today.

USD/JPY technicals - Eyes on 121.00

With the ADR - average daily range 14 periods - in USD/JPY being reached, the next focal point in terms of techncals should come at 121.00 round number ahead of 120.40/50, key downsing from last July. On the upside, 121.90/122.00 is now the major point of control sellers need to defend.