Flows and Orders/USD/JPY

USD/JPY: well confirmed range edges at 97.00/100.00

I have a mildly bearish short-term bias, only because of reports of stop-loss orders below 98.60, but really its a matter of waiting for range edges and trading these with tight stops.

The big option barriers are still in place whilst big dips will find plenty of corporate buyers whereas big rallies will run into profit taking from hedge fund longs.

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