Forex: USD/JPY falls below 91.00 to Feb minimums

Risk aversion is over the market with equities and risky currencies trading lower Monday on the back of uncertainty in the Italian election results. The USD/JPY is trading lower too with the pair losing more than 300 pips in the last few hours from the 94.00 area to touch levels at 90.80, lowest since January 31st.

Currently the USD/JPY is trading at 91.35, 3.35% below opening price action. More bearish movements are expected in the short term as CCI, MACD and Momentum are point lower in the 15-minute and 1-hour chart according to the FXstreet.com Forex Studies. On the other hand, Stochastic is bullish for the same periods.