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