USD/JPY: Corrective pullback
08:40 GMT - The anticipated exhaustive run towards the 106.00 Fibonacci retracement has given way to a pullback, as unwinding intraday studies prompt fresh selling intraday and push prices below 105.00. Overbought daily stochastics are also unwinding, and the positive Tension Indicator is turning down, highlighting a deterioration in sentiment. Focus is on 104.50/58, with a further break opening up the 104.20 retracement. Meanwhile, a close above 105.00, if seen, would turn sentiment Neutral and put prices into consolidation below 105.50.
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