Just talking to another old dino, who specializes i yen and yen crosses. He’s of the opinion that all the short-term specs are limit long USD/JPY and JPY crosses and will rue the day when the purge comes later in the session.
EUR/JPY and USD/JPY have not kept pace of late as equities enjoy a rebound, reversing (at least intraday) yesterday’s late slide.
One man’s opinion…
