USD/JPY fell to its lowest level in three weeks

USD/JPY continued its decline to reach its lowest levels during the European period trading at 108.70, approaching the lowest levels of the pair in three weeks at 108.61, with a weak state dominating the US dollar trading and a high risk aversion for investors in the Christmas festivals, which caused an increase The demand for safe havens such as gold and the Japanese yen and a sharp decline in the main stock indices, led by the Dow Jones and the German DAX.
Meanwhile, the US Treasury yield yield curve also failed to enrich the buyers of the yen. Bond yields for two to ten years increased by 35 points during Monday's trading, which is the highest level since October 2018. If the dollar yen continues to decline, it may receive support at 108.40.