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Aug 06 - 07:55 AM

USD/JPY - FX Traders Exit USD/JPY All Week EBS Flow Data Shows

By Martin Miller  —  Aug 06 - 05:50 AM
  • FX traders have been exiting USD/JPY all week, according to EBS flow data

  • It's August -- USD/JPY shorts needn't panic nL1N2F409E

  • USD/JPY's recent short covering was capped at Monday's 106.47 peak

  • USD/JPY "bull trap" weighs, bears eye key 105.07 Fibo below nL1N2F808E

  • 105.07 Fibo is a 61.8% retrace of 104.20 to 106.47 (Fri to Mon) rise

  • Thursday's range has been a tight 105.40-69 EBS data range

  • Japanese bids at 105.30 in size, but some stops mixed in below

EBS Flow Data Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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