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Apr 28 - 01:55 PM

USD/JPY - It's Fun With Fibos After The BoJ

By Christopher Romano  —  Apr 28 - 11:50 AM
  • USD/JPY dipped to 133.36 on EBS overnight buy intense yen selling emerged

  • BoJ maintaining ultra-low rates helped yen bears take control

  • USD/JPY hit a 1-1/2-month high pierced 61.8% & 76.4% Fibos of 137.90-129.645

  • Rally stalled short of 38.2% Fibo of 151.94-127.215 which sits at 136.66

  • Daily RSI is rising & not overbought; implies upside momentum is in place

  • March, Dec. monthly highs targeted if 38.2% Fib of 151.94-127.215 breaks

  • Break of the latter high brings 50% Fib 151.94-127.215, 140.00 into focus

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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