USD/JPY Signal - USD 3 Month Bill Auction - 22 Dec 2021

USDJPY is trending to the downside currently prior to the USD 3 Month Bill Auction data, which measures the yield on the US Government backed security. Technically the pair has rejected resistance at the 61.8% fibo level, and has now formed a bearish structure on the 1H price chart. We anticipate continued downside into the 61.8% fibo extension.