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Jan 13 - 08:36 AM
USD/JPY - FX Traders Loving USD/JPY, It Could Get Messy Above 110 Barrier
First appeared on eFXplus on Jan 13 - 06:25 AM
  • USD/JPY buoyed by U.S.-China phase 1 expectations, tech outlook nL1N29I04C

  • May 2019 109.92 high breaks, could be messy trading above 110 nL1N29I04H

  • Biggest weekly candle since Oct bullish, 110.53 Fibo beckons nL1N29I03W

  • The major 110.53 Fibo is a 76.4% retrace of 112.40 to 104.46 2019 drop

  • USD/JPY has seen a tight 109.50-93 range, according to prices on the EBS

  • EUR/JPY's 30/60-day log correlations with USD/JPY are +0.63/+0.63

  • A leveraged bet for FX traders bullish risk appetite nL1N29F05Y

Weekly Fibo Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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