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