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Thomson Reuters
Jul 10 - 07:24 AM
USD/JPY - Longs Struggle Above 111.00, They Might Buckle
First appeared on eFXplus on Jul 10 - 05:05 AM
  • USD/JPY bulls run into bollinger-band supply, outlook mixed nL1N1U6069
  • Japanese exporter offers slowed spot's gain, 110.81-111.20 today's EBS range
  • IMM data: Yen shorts grew for week ending July 3 to 38730 contracts
  • This is an equivalent 4.4 yards cash USD/JPY long, long positions vulnerable
  • Gotobi demand saw USD/JPY rise in Asia, 10-year UST-JGB spread widens
  • Talk of decent stops clustered above 111.20, these are quite vulnerable

IMM JPY Net Positions Chart: Click here

Source:
Thomson Reuters IFR Markets

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