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USDJPY Extending Losses To 1.75%, Back Below 143.00

USD
  • USDJPY extending losses in recent trade, briefly breaching the 143.00 handle at typing. As a reminder, last week’s impulsive sell-off confirmed the break of trendline support drawn from the Mar 24 low.
  • This strengthens a bearish threat and signals scope for a continuation lower towards 140.71 next, a Fibonacci retracement point. In between that level and the current spot rate, attention should be paid to 142.50 & 141.71, the Dec 8 low and the bear trigger respectively.
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