By Martin Miller — Mar 31 - 02:53 AM
• USD/JPY last week peaked just ahead of the 151.26 Fibo, it hit 151.21
• Note bulls failed to probe the March 3 151.30 peak
• 151.26 Fibo is a 38.2% retrace of the 158.88 to 146.55 EBS drop
• Fourteen-week momentum remains negative, that highlights downside risk
• There is scope for a bigger slump back below the 148.00 psychological level
• Only a sustained break above the 151.30 peak will defer losses
• USD/JPY Trader . Previous update
Weekly Chart:
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters
