FXWW News/JPY crosses/Trade Ideas/USD/JPY

JPY outlook: Selling short-term rallies in Yen crosses is preferred strategy

  • AUD/JPY looks to be in retracement mode and we could see a deeper dip towards 91.40 (see chart);
  • EUR/JPY also looks susceptible to a deeper retracement towards 131.50 or even 130.50 (see chart);
  • Positioning is the main factor for me in USD/JPY and with the market sitting long and momentum waning, I see a danger of a downside clean-out back towards 95.00.
  1. Morning Sean, Im with you on the Usd/Jpy, sooner or later it has to go for a deeper dip, and the Nikkei is looking more supportive of such a sentiment. And 95.5 is also the point at which Im expecting a minimum dip. All this 93 talk still seems unpractical to me, but you never know once we start getting down to those levels, any bad news could propel it lower for a spike. im just regreting not talking a short position at 99.6, i typed in the order, but all the market chatter in my head made me restrain my self. Better safe then sorry 🙂

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