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Jan 16 - 11:55 AM

USD/JPY - Aggressive Dip Buys Drive Fibo Break, Probe Of Resistance Zone

By Christopher Romano  —  Jan 16 - 09:45 AM
  • USD/JPY hit 145.59 on EBS, buyers emerged, a 1-1/2-month high then traded

  • Rise in US yields US2YT=RR helped drive broad based US$ buying

  • USD/JPY broke 50% Fib of 151.71-140.27, probed 149.65/147.45 resistance zone

  • Daily cloud top was also pierced before USD/JPY pulled back from its high

  • Nov. low, Dec. 4-8 highs, 61.85 Fib 151.71-140.27 sit in 149.65/147.45 area

  • Break of that zone may trigger stops, bring 148.80/149.05 into focus

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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