The currency pair extends losses for a second day, falling below the 23.6% Fibonacci retracement amid broader market pressure.
The USD/JPY pair declined for the second consecutive session, reaching a more than two-week low below 161.00 during European trading hours. The drop follows an intraday rebound to the mid-161.00s, pushing the pair below the 23.6% Fibonacci retracement level.
Prior to this decline, USD/JPY had shown resilience near key support levels, but recent selling pressure has accelerated losses. The pair’s vulnerability reflects broader USD weakness and shifting risk sentiment in global markets.
No immediate market reaction data was provided, though the move signals potential further downside if support levels fail to hold.