• Yen trading near seven-month highs

• USD/JPY has seen 153.29-74 range, on Thursday, EBS data shows

• There was some Japanese importer demand at Thursday's Gotobi Tokyo fix, exporter sales also

• A weekly close by USD/JPY below a broken 154.78 Fibo would be a bearish sign

• 154.78 Fibo, a 38.2% retrace of the 139.89 to 163.99 (April to July) EBS rise

• USD/JPY and EUR/JPY tend to move in tandem, log correlations are high above +0.5

Daily Chart


Weekly Chart


Correlation Chart

(Martin Miller is a Reuters market analyst. The views expressed are his own)