JPY positioning: Most of big Yen short positions are in Asia

That is according to the big Prime Brokers which means the yen crosses are susceptible to sharp moves lower if/when profit taking emerges in force during Asian trade.

I’ve updated the short-term EUR/JPY technicals in the members section and an initial 123/127 consolidation range looks likely, with plenty of volatility of course. Definitely prefer a sell-rally bias intraday.