Flows and Orders/USD/JPY

USD/JPY: No change after BOJ policy statement; stops reported both sides of market

Dealers tell me that the risk is now to the topside in USD/JPY with stops building above recent 103.25 highs and corporate demand seen on dips towards 102.00. That said, stops are also reported below 101.80 and we are stuck at the mid-point between these two stop-loss levels.

Sounds like a good reason to leave it alone.

  1. Should Mr.Helicopter fail to include the hottest word in the Market right now(TAPERING) in his testimony,I shall be chasing the bulls further uphill as they scatter in Yen strength.Risk,for me,is to the downside.Cheers.

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