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USD/JPY takes out 154 now so where next ?
The USD/JPY has now taken out 154 on the downside as the US equity futures fall a bit more. Tesla stock is coming under further pressure in the premarket and that is weighing on the Nasdaq 100 and the S+P futures. The move below 154 in the USD/JPY therefore seems to label it as a bit more of a risk based fall. The reader is now reminded of an update here sent out last week, highlighting the first major Fibonacci correction level, at 153.66. That price point comes in close ahead of another potential support level at 153.57 from a low seen back in May. The 153.66 price point represents a 38.2% correction of the move up, from 140.25, to the recent multi-decade high at 161.95. The low seen so far has been set at 153.90. The USD/JPY is currently trading at 153.96
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