USD/JPY failed to register a daily close under 132.56 Fibo on Mon and Wed

132.56 Fibo, a 50% retrace of the 127.22 to 137.90 (Jan to March) rise

Possible "bear trap", set when a mkt breaks below a level but then reverses

However 14-day momentum remains negative, reinforcing the bearish bias

We remain short at 133.95 for losses to our 131.05 target

Our stop is above kijun line, 133.85, midpoint on the last 26 trading days

USD/JPY Trader TGM2336. Previous update nL1N35N0LO

EUR/JPY range has been 140.26-141.44, on Thursday, so far on the EBS