Flows and Orders/JPY crosses/USD/JPY

Yen crosses holding on to gains; still no reports on volumes, orders

Interbank dealers are still way too busy to be chatting with any other traders, never mind commentators, so we won’t hear any colour on what’s happening at the coalface for a little while yet.

USD/JPY is quite steady between 84.25/40, after stops above the previous 84.15 high were triggered. Next technical resistance there is the 200-week MA at 85.10.

EUR/JPY is trading near 111.20 in early interbank trade and it needs to overcome two separate weekly highs near 111.50.

  1. Good morning Sean. Surely a lot of this Yen madness is already priced in at this stage. The new government would have to legislate to change the BOJ mandate and we know how long that might take.

  2. Yes my thoughts exactly Doc. It will take an eternity to enact but all the speccy players are already short, so that’s why I’m selling into this rally; risky for sure but I’ll keep it small until it feels like its turned

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