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Feb 21 - 05:55 AM

USD/JPY - Fundamental And Technical Factors Point To A Rise

By Martin Miller  —  Feb 21 - 05:30 AM
  • Dollar likely to climb against yen as Japan woes mount nL2N3F60MO

  • Japan's government have downgraded its view on the economy nL3N3F520S

  • USD/JPY has seen a 149.86-150.18 range, on Wednesday, EBS data shows

  • Very bullish due to sustained trading above broken 149.17 Fibo nL2N3F60HB

  • 149.17 Fibo is a 76.4% retrace of the (Nov-Dec) 151.92-140.27 (EBS) drop

  • USD/JPY and EUR/JPY currency pairs have a strong positive correlation

Source:
Refinitiv IFR Research/Market Commentary

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