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Thomson Reuters
Oct 08 - 03:48 PM
USD/JPY's Reversal Treats Spec Longs To Risk-Off Trick
First appeared on eFXplus on Oct 08 - 02:15 PM
  • USD/JPY spec longs getting tricked, not treated, by Tsy yield rise
  • Fed hikes seen risk-off, threaten low-vol yen-funded carry trades
  • US-China trade war a fair risk to get worse before getting settled
  • A USD/JPY 114.55-111.11 drop would erase 3 percent 2-yr Tsy-JGB carry
  • Repeated rejections in 114.00s, O/B sells, big spec longs weigh
  • 112.46/111.95-97 next props, but 100-DMA & Cloud top key @111.20/27
  • EUR/JPY & other crosses also weighing as EM problems seep into DM

Chart: Click here

Chart: Click here

Source:
Thomson Reuters IFR Markets

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