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Sep 16 - 07:55 AM

USD/JPY - FX Traders Exit USD/JPY All Week, There Is Room For A Surge

By Martin Miller  —  Sep 16 - 05:45 AM
  • USD/JPY has seen a wide 141.61-144.96 range this week, according to EBS data

  • FX traders have exited USD/JPY all week, EBS flow data shows

  • That has likely lowered long positions, creating room for bigger spot gains

  • The daily chart points to the coming battle near 145.00 nL1N30N0FP

  • Spot's EBS range has been 142.83-143.69 so far on Friday

  • Investors see unrelenting yen descent nL1N30M0JW

  • Japan signals readiness to act if sharp yen volatility persists nL1N30N044

  • EUR/JPY's correlation with USD/JPY is high, 30/60-day logs are above +0.50

Source:
Refinitiv IFR Research/Market Commentary

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