By Martin Miller — Jan 27 - 04:43 AM
• Japan's Nikkei down nearly 1% as tech shares stumble
• Doubts creep in about the U.S. dollar
• EBS flow data shows big bouts of selling in London trading
• USD/JPY has dropped from 156.25 to 154.47, on Monday, on the EBS
• That has pushed spot below the 154.97 Fibo once again this week
• 154.97 Fibo is a 38.2% retrace of the 148.65 to 158.88 (Dec to Jan) EBS rise
• Recall spot failed, on two occasions last week, to close below 154.97 Fibo
• USD/JPY and EUR/JPY tend to move in tandem with each other
EBS Flow Data Chart:
Daily Chart:
Correlation Chart:
(Martin Miller is a Reuters market analyst. The views expressed are his own)
Source:
London Stock Exchange Group | Thomson Reuters