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