By Martin Miller — Jan 17 - 04:41 AM
• USD/JPY is down, but not out, ahead of the BOJ decision
• Nikkei: majority of BOJ members to approve hike next week
• USD/JPY has seen a 154.98-155.85 range, on Friday, on the EBS
• Specs hunted for stops, good bids noted at lows
• Support was found one pip ahead of major 154.97 Fibo
• 154.97 Fibo is a 38.2% retrace of 148.65 to 158.88 (Dec to Jan) rise
• 30 and 60-day correlations between USD/JPY and EUR/JPY remain above +0.50
Daily Chart:
Seasonality Chart:
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters