There have been bullish USD/JPY commentary from Forex.com as reported by bloomberg recently as well.
Monday, August 17, 2009
USDJPY Fibs
The July 13 - August 7 rally in the USD/JPY pair that broke through a previous downtrending channel to the upside corrected at the 62% fibonacci as measured from the May 6 high. Interestingly this latest downturn has taken a bullish turn after retracing 62% from it's short term peak on August 7.
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