Usd/Jpy comes under renewed pressure
Usd/Jpy is attracting some selling interest currently, with 98.45 capping this morning’s rally, attention is now turning to the downside. US Yields are little changed from yesterday, a tad lower if anything, but Traders are looking to probe some sell stops located in the 97.75/80 area. Note too that the Japanese Retail FX market were short the Yen crosses as of Friday, but it seems a sell rallies mentality pervades, with exporters seen on the offer.

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FYI Mark:
GS recommendation –
“We would go long EUR/$ with a stop on a close below 1.3720 for an initial target of 1.45. “
Cheers Dennis,
I hope that they have more luck with this than there recent trading recommendations in Bonds and Bunds.