Dollar looks set for a negative start to 2023 nL1N33K0EX

USD/JPY peaked at 134.50 on Wednesday, then saw a big setback on Thursday

Friday sees a drop under 132.08 Fibo, but finds support ahead of 131.51 Fibo

131.51/132.08 Fibos are 76.4%/61.8% retrace of the 130.58-134.50 (EBS) rise

It dropped from 133.09 to 131.57 this session, according to the EBS data

14-day momentum remains negative, reinforcing the underlying bearish outlook

EUR/JPY's correlation with USD/JPY high, 30/60-day logs are well above +0.5