USD/JPY: Overnight comments raises possibility of further ‘measures’

The new Japanese FinMin was on the newswires overnight and he’s obviously had some coaching from his predecessors (Yen gains one-sided, don’t reflect fundamentals; ready to take necessary steps; will discuss at G7 level). Despite falling oil prices, USD/JPY managed to sneak higher through 78.50 and I suspect that the market is getting long again ahead of tomorrow’s BOJ decision, just in case.

Not expecting much action today with prices expected to oscillate in a 78.25/78.75 range.

  1. Shortly be4 NFP’s am going to get moderately positioned as a bull on this pair.I know the job’s data has been more awful than better lately but it is a bet am willing to take as i think we are about to see this pair rise.Do u agree?

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