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Oct 29 - 08:36 AM
USD/JPY - FX Traders Continue To Pile Into USD/JPY As Fed, BOJ Loom
First appeared on eFXplus on Oct 29 - 06:15 AM
  • FX traders await Fed (Wednesday), BOJ (Thursday) to get a handle on USD/JPY

  • IMM's long for week ending Oct. 22 jumped to $2.1bln from prev week's 763mln

  • EBS data since Oct. 22 showed there has been further USD/JPY buying since

  • Range Tuesday has been a narrow 108.84-109.07 range, according to EBS prices

  • A USD/JPY break, close above a key Fibo should accelerate gain nL2N27E057

  • 109.37 is a 61.8% retrace of the 112.40 to 104.46 (April to August) drop

  • EUR/JPY's correlation with USD/JPY high, 30/60-day logs are +0.65/+0.72

EBS Flow Data Chart: Click here

IMM Positions Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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