USD/JPY Forex Technical Analysis – Strong Selling Pressure Should Drive Dollar/Yen into 109.076

From fxempire.com

The Dollar/Yen is trading lower early Monday, continuing last week’s sell-off that began on Wednesday, following the release of weaker-than-expected U.S. consumer inflation data and continued on Friday as consumer sentiment dropped sharply to its lowest level since 2011. At 01:46 GMT, the USD/JPY is trading 109.410, down 0.193 or -0.18%. Last Friday’s consumer sentiment news raised fears the U.S. economy may be slowing. Combined with the deceleration in inflation pressures, traders now fear the Fed may delay an earlier tapering of Federal Reserve asset purchases. This is putting pressure on U.S. Treasury yields, ... (full story)