Trend: Down
Momentum: Retracing
All eyes on the JKPY today where JPY selling on its crosses, where the BoJ is least likely to intervene, is lifting USDJP/. This is not a free floating market so look for traders to go on intervention alert should USDJPY make run back towards 160.
Chart shows no meaningful resistance until above 160 so focus is on FIBO levels for 264.94 => 155.22.
158.57 = 38.2% (done)
159.50 = 50%
160.53 = 61.8%
(AT 4 hour chart)
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