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Thomson Reuters
May 07 - 08:36 AM
USD/JPY - Longs Look Set To Roll Over, 110.00 Is Key
First appeared on eFXplus on May 07 - 07:05 AM
  • Bets on a USD/JPY rise have reached levels that preceded prior slumps
  • Pair traded 110.28 low after threatened hikes for U.S. tariffs
  • Traded below but closed over 100-DMA yesterday, 100-DMA @ 110.60 today
  • Traders must now gamble whether tariff threat is ploy or becomes reality
  • USD/JPY bounce suggest traders initially bet on political manoeuvring
  • 110.00 options key. Given long bets, deck is stacked in favour deeper drop
  • Related comments

JPY shorts vs USD/JPY Click here

Source:
Thomson Reuters IFR Markets

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