By Martin Miller — Aug 18 - 06:00 AM
Global equities fallout nL8N39Z1ON feeds demand for the Japanese yen
USD/JPY has stumbled from 145.85 to 145.17, on Friday, EBS data shows
Falls further away from the new 146.56 2023 peak, highest since Nov 2022
Huge 145.00 strike to expire at NY cut could attract spot nL1N39Y2FN
Weekly chart hints at a top under one condition nL1N39Y2F4
A failure to end the week above the 146.11 Fibo would signal a bull trap
EUR/JPY's correlation with USD/JPY high, 30/60-day logs are both above +0.70
Source:
Refinitiv IFR Research/Market Commentary