By Martin Miller — May 05 - 05:25 AM
USD/JPY slumped to 128.62 Wed and 128.76 on Thu, according to EBS data
USD/JPY's relapse has found support ahead of a key 128.60 Fibo nL2N2WX0CG
128.60 Fibo is a 61.8% retrace of 126.97-131.25 (EBS) rise
Shares have charged higher after the Fed hike nL2N2WX0IC propping USD/JPY
In times of risk appetite, funds usually flow out of the safe-haven yen
USD/JPY's 30/60-day log correlations with EUR/JPY remains above +0.50
The two currency pairs close in the same direction more often than not
Daily Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary