* USD/JPY setback has broken back below the previous 109.56 Fibo resistance
* 109.56 Fibo is 76.4% of the 111.71 to 102.60 (Mar 2020 to Jan 2021) drop
* If there is a daily close back under the 109.56, that would be quite bearish
* Spot has seen a 109.44-109.90 range on Thursday, according to EBS data
* Japanese importers said to be buyers on dips, exporters remain above
* Talk of offers circa the 110 psychological level which limits the upside
(Martin Miller is a Reuters market analyst. The views expressed are his own) ((martin.miller@thomsonreuters.com))
