Steep fall extends on rising safe-haven demand

The cross holds firmly in red for the fourth day and is down 2.8% from Monday’s opening until now and is on track for the biggest weekly fall since last week of February.
Fresh exodus into safe havens was boosted by Fed’s outlook which suggest long recovery and interest rates  to stay at record lows for some time.
Today’s US weekly jobless claims came a bit below the expectations but continuing claims rose nearly million above forecast and remaining above 20 million that is bad signal.
Weakened sentiment prompts traders to buy more yen and push cross price further down.
Repeated close below 200DMA (Tue/Wed) was initial negative signal which would be boosted by today’s close below broken 135.74 support ( Fibo 38.2% of 129.29/139.73 / 100DMA).
This would open way for test of 134.51 (50% retracement) and unmask strong support zone between 133.94 and 133.28 (20/55/30DMA’s / Fibo 61.8%).
South-heading daily momentum and formation of 5/200DMA death-cross maintain pressure.

Res: 135.74; 136.39; 137.12; 137.44
Sup: 134.51; 133.94; 133.52; 133.28