By Martin Miller — Jan 09 - 03:40 AM
USD/JPY's outlook is in the balance as bulls try to stage a rebound
Spot dropped and closed under the 132.15 Fibo on Friday
132.15 Fibo, a 50% retrace of the 129.51 to 134.78 (EBS) rise
Monday saw a break under the 131.52 Fibo, a 61.8% retrace of the same gain
A daily close under 131.52 Fibo needed to unmask the 130.75 Fibo (76.4%)
Failure to close under 131.52 Fibo would hint the downside risk is receding
USD/JPY Trader TGM2336. EUR/JPY range has been 140.19-141.31 on Monday
Source:
Refinitiv IFR Research/Market Commentary