By Martin Miller — Dec 14 - 05:40 AM
Dollar is in bad shape after soft U.S. inflation data nL1N3340H6
FX traders focus switches to the looming Fed decision nL1N33409I
USD/JPY has dropped from 135.73 to hit 134.53, Wednesday, according to EBS
The recent failure above 137.94 Fibo should see a bigger drop nL1N3340FG
137.94 Fibo: 23.6% of 151.94 to 133.62 (Oct to Dec) drop
USD/JPY and EUR/JPY see daily closes in same direction more often than not
30/60-day log correlation between USD/JPY and EUR/JPY both above +0.50
Source:
Refinitiv IFR Research/Market Commentary