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Oct 28 - 07:55 AM

USD/JPY - It's Incredible That Traders Remained Short USD/JPY

By Jeremy Boulton  —  Oct 28 - 06:05 AM
  • Traders short USD/JPY throughout rise from 139.58 to 149.98 on Oct 15

  • Latest IMM data compiled for Oct 15 revealed traders still short USD

  • Since Oct 15 the rally extends to 153.88 on Oct 28

  • It seems improbable that traders still short USD/JPY now

  • On Oct 28 the rise became stretched at peak 20-day Bollingers at 153.86

  • Without shorts to squeeze USD/JPY may dip to alleviate overbought conditions

  • Bets on USD rising are growing issue for FX traders nL1N3M4079

Source:
Refinitiv IFR Research/Market Commentary

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