It seems the key cross rate driving the US equity market (for years, it seems) has been the dollar/yen, so I’ve been watching the Fibonacci retracements with interest. The USD/JPY was strong enough earlier to inch just past the present retracement level, but………….
…….a closer look shows that, for now, it has been repelled. This isn’t a show-stopper, naturally, and the breakout around 104.25 remains quite bullish. It would take a failure of 104.25, I think, to really jeopardize the likely of the USD/JPY continuing its bull run.