JPY crosses: Buying dips worth considering once Asian market closes
Again I’m relying on the accuracy of interbank reports here, but they are usually pretty good. The suggestion is that most of the big JPY short positions are held in Asian (mainly Japanese) accounts and therefore any big Yen rallies are more likely to happen during Asian trade and perhaps into early Europe. Once Asia has quietened down, it might be worth considering short-term buy-dips strategy in the Yen crosses as JPY buyers might dry up and lead to some intraday short-covering rallies in pairs like EUR/JPY, USD/JPY and AUD/JPY. Just a thought.