USD/JPY falling back on risk aversion and negative stocks

USD/JPY has been one pair that the greenback has been able to take control of to some extent. However, the bulls commitments are now being tested at the 109 handle with a recent low of 109.03 with the 20 sma under pressure as well at 109.12. 

We have some risk aversion coming in on the last hourly sticks across the board and oil seems to have reached a peak for the session at $41.56, currently tailing off to $40.80 and gold was picking up the pace up to $1,257 highs in the open of the U.S. shift. AUD/JPY is now making fresh lows of 84.99 and pressure continues.

The greenback has been under pressure right across the board except by the Yen. However, stocks are now coming off and all three indicies on Wall Street are in the red for the first time in the session. 

USD/JPY levels

USD/JPY bears have the 100 sma on the hourly sticks in their sights, located at 109.00 and a break there supported by stocks in decline opens up the pivot at 108.55 and S1 at 108.11 thereafter. For the upside, the price needs to get above 110.00 and a break of 5th April lows to alleviate bearish pressures in the broader theme.