The Nikkei is plodding around 17,289.86 near the day’s lows of 17,270.70 as we head into the close but that’s not putting off USDJPY from posting fresh session/7-year highs of 118.71
Currently 118.63 with offers seen into 119.00 but, hey, we’ve had that scenario all the way up in a relentless rally.
Plenty of chatter in our comments section about the pair running out of steam at some stage but also accepting that yen weakness appears to be a major/only tool in Abe’s armoury.
Yes, there has been money to be made from shorting at various levels on the way but this latest move has provided precious little opportunity. The jury remains out on whether a correction lower is now due therefore
