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Thomson Reuters
Nov 22 - 03:48 PM
USD/JPY - If Soft USD/JPY Fails Above Key Fibo, Expect Black Friday Sales
First appeared on eFXplus on Nov 22 - 01:35 PM
  • USD/JPY is fragile due to last Friday's biggest one-day drop since July
  • Spot spiked through 113.26 Fibo Thursday, but is unlikely to close above it
  • That would be a very negative sign which would weaken USD/JPY further
  • The expectation would then be for a bearish resumption throughout Friday
  • The 113.26 Fibo is a 50% retrace of the 114.21 to 112.30 (EBS) fall
  • USD/JPY had been grappling with the daily cloud top

USD/JPY Trader:

Daily Fibo Chart: Click here

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