USD/JPY's "bull trap" above the 136.66 Fibo adds to the downside risk

136.66 Fibo is a 38.2% retrace of the 151.94 to 127.22 (Oct to Jan) EBS drop

A bull trap is set when a market breaks above a tech level but then reverses

It is usually a bearish sign, expect a setback to the daily cloud eventually

The daily cloud currently spans the 130.29-134.73 region

USD/JPY Trader TGM2336. Previous update nL1N35A36T

EUR/JPY range has been 144.12-57, on Monday, so far on the EBS