• USD/JPY trading just below 145.55 peak daily Ichimoku cloud
• Japanese charting system really matters for the yen
• Specs are sitting on massive yen long position
• Close above 145.55 likely to trigger a short squeeze
• Short squeezes are the disorderly and rapid unwind of losing bets
• Top of 20-daily Bollingers (145.88) is rising allowing for bigger gains
•
USDJPY
(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)