JPY crosses

Yen profit-taking starting to intensify

I’d expect any rallies in EUR/JPY, USD/JPY, GBP/JPY, CHF/JPY etc to meet with plenty of grateful profit takers and I’m trading these pairs from the short side but with realistic expectations. USD/JPY could see 87.00 on a sharp sell-off but I’ll cover there initially, 94.00 is my first target in CHF/JPY, and whilst I don’t have any direct exposure to the other pairs, I think 117.50 will be the first EUR/JPY target and GBP/JPY may fall a little further, possibly 139.50?

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