By Martin Miller — Mar 16 - 04:00 AM
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
Source:
Refinitiv IFR Research/Market Commentary