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Sep 23 - 07:24 AM
USD/JPY's Diminishing Short Position Reduces The Upside Risk
First appeared on eFXplus on Sep 23 - 05:00 AM
  • USD/JPY teeters on the edge, a drop to cloud top at 107.19 is on the cards

  • IMM data for the week ending Sept. 17 saw a reduced short of -$2.8bln short

  • EBS data since Sept. 17 shows a further cut of shorts and associated stops

  • Spot sees a 107.32-107.77 range, according to prices on the EBS

  • Talk of decent offers near 108.00, which should keep a lid on the market

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are +0.75/+0.72

EBS Flow Data Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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