By Martin Miller — Jan 11 - 04:37 AM
Hedge funds are said to be short USD/JPY, keeping pressure on the upside
EBS flow data shows short squeeze caused by profit-taking since Thursday
USD/JPY bulls eye a test of major falling trend-line at 104.36 nL1N2JL0HK
However virus worries hit stocks nL1N2JM0HG, keeps s-term lid on USD/JPY
USD/JPY has seen a 103.81-104.22 range, according to EBS prices on Monday
USD/JPY, EUR/JPY relationship weak, 30-day log correlation well under +0.50
EBS Flow Data Chart: Click here
Source:
Refinitiv IFR Research/Market Commentary