EUR crosses/JPY crosses

Last day for Yen shorts to cover before general election

Tomorrow that is, and if we are to see some serious profit taking ahead of the event then it must happen tomorrow. Various sets of positioning data from the IMM, retail brokers and prime brokers all suggest that Yen shorts are at extreme levels. The market isn’t trading that way but as we know that can change quickly.
Let’s see what tomorrow brings.

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