By Martin Miller — Jan 10 - 03:40 AM
USD/JPY dropped and closed under the 132.15 Fibo on Friday
132.15 Fibo is a 50% retrace of the 129.51 to 134.78 (EBS) rise
However spot failed Monday to register a daily close under the 131.52 Fibo
131.52 Fibo is a 61.8% retrace of the same gain
That failure to close under 131.52 Fibo hints the downside risk is receding
A daily close under 131.52 Fibo needed to unmask the 130.75 Fibo (76.4%)
USD/JPY Trader TGM2336. EUR/JPY range has been 140.11-141.91 on Tuesday
Source:
Refinitiv IFR Research/Market Commentary