The Japanese Yen is once again seeing gains, with a USD/JPY downtrend now re-establishing itself. Last week saw that currency pair pretty stuck, but this week has seen it slide once again. Indeed, it is now flirting with the second, 38.2% Fibonacci retracement of the rise up from the lows of late March to July’s highs. That comes in at 109.92, just a whisker above the current market. We haven’t seen a daily close below this point since June 25 and, if we see one this week, downside focus will coalesce around the next, 50% retracement which lies at 108.93. However US Dollar bulls could be in a bit of trouble if that ... (full story)