USD/JPY got briefly above 117 in the immediate wake of the GDP data but its been heavy ever since, as has the Nikkei – both lower as we head in to the TSE lunch break.
Some weak-hand USD/JPY longs were taken out on Friday in the US while the chatter on this morning’s selling is from longer-term positions locking in profit. That’s the general, overall picture … as always the motivations of sellers and buyers is much more mixed. But the orders to sell below 115.95 are driving it at present:
usdyen 17 November 2014 intraday chart
