Flows and Orders/FXWW News/Trade Ideas/USD/JPY

USD/JPY: Solid demand but not much bounce yet

Our hedge fund insider @FXWW888 is reporting that Japanese Lifers have been noted buyers in recent trade near 98.90. Prime brokers are also reporting solid demand near 98.65/70 but despite all this demand, the pair isn’t bouncing much! The crosses, AUD/JPY in particular, are to blame for most of the Yen buying.

I’m still short USD/JPY from Friday and I don’t see much reason to change my view just yet. I have a tight stops above 100, which was one of the attractions of this trade, so best be patient and see how the market develops later today.

  1. Hi Sean,

    I am still short on USDJPY. What’s the sentiment from the dealers this morning like the last friday, they are still bullish 😉 ? I have had a question for this weekend but you have answered very well : you have a bid on AUD/USD 😉

  2. Nice Papillon, cover 9780 and re-sell rallies I think? Yep, hoping for silly spike lower in AUD/USD, don’t think I can lose too much by buying there (famous last words)

  3. Hey Sean, I went in with yo on friday with the usd/jpy short trade, but i cashed in already. i dont know why but the 98 mark is bothering me, i feel that a reversal is possible at that mark, what do you think?

  4. Morning Abdullah. Support certainly strong ahead of 9750 and resistance at 100, so likely to see more range trading? I have profit target in at 9780 but overall more likely to go down I still think in medium term. So range trade short-term and sell m/t rallies and be patient

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