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Dec 02 - 06:55 AM

USD/JPY - Think Yen And USD/JPY Movement Will Make Sense

By Jeremy Boulton  —  Dec 02 - 04:40 AM
  • In keeping with positive markets yen is falling lifting USD/JPY off lows

  • Dollar centre risk-on moves. Most liquid currency sold to buy riskier assets

  • JPY and CHF as negative yielding currencies are likely to be sold too

  • USD/JPY may be one of least rewarding dollar short plays

  • Adding to upside risk in short-term is potential for a spec short squeeze

  • $4.8 billion dollars sold on the back this year's risk aversion

  • $3.2billion sold since end Oct with USD/JPY mostly below 105

  • Weekly cloud 106.70-106.30 should slow a rebound. 100-WMA @ 108.00 may cap



JPY bets Click here

USDJPY Click here

Source:
Refinitiv IFR Research/Market Commentary

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