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USD/JPY reaches final technical reversal level and slips back
The USD/JPY recovered a drop towards 155.60 yesterday afternoon, which was led by a fall back in US treasury yields, as was noted here at the time. The rebound that followed was helped by the later comments from the Fed boss, Jerome Powell, walking back on further immediate US interest rate cuts. So, the USD/JPY latched onto those comments and lifted towards 156.40 into the US close. The USD/JPY closed at 156.27. Earlier today the dollar extended that rebound and reached a high at 156.75. In doing that it just surpassed the noted final Fibonacci correction level, at 156.67. However, it has dropped back since then and it is right slipping towards 156. The dollar has just this minute hit a session low at 156.07
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