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Thomson Reuters
Oct 29 - 06:12 AM
USD/JPY - JPY Short-Squeeze May See USD/JPY Challenge 110
First appeared on eFXplus on Oct 29 - 03:50 AM
  • Risk aversion rising as stock corrections continue and yuan weakens further
  • USD/JPY shorts look an ideal hedge for the souring mood
  • Specs remain very short JPY. USD/JPY longs 2/5ths of all USD longs IMM/FX
  • USD/JPY 111.38 low Friday, 112.04 high today capped close 55-DMA 112.03
  • Selling strength with stops over 21-DMA at 112.75 may reward
  • Scope for 110.00 but perhaps not much beyond 200-DMA 109.83

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