FXWW News/Trade Ideas/USD/JPY

USD/JPY: Downside risk now very real

I’ve thought for weeks that USD/JPY is likely to stop everyone out in extended periods of volatile range trading and I think we may now see the bulls getting hurt. The market is long of the JPY crosses and the delayed taper from the Fed will hurt the bullish USD sentiment. Add in to the mix that it’s mid-July and many big players will start exiting their positions pre-holidays and we could be in for a sharp downside clean-out. I would not be surprised to see the market back below 95 quite soon.

  1. Hi Sean,yesterday EURJPY been stop out at 129 pre-FOMC, but I’m reload short at 130 this morning, it made make confuse that USDJPY weaker but EURJPY stronger, from your view this will be the good idea or bad idea?? I’m may plan my SL at 131.155

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