The crowded long-USD/JPY trade is feeling the squeeze

Technical Analysis

Author: Adam Button | usdjpy

USD/JPY falls to 15-month low

With the latest drop in the dollar, USD/JPY has taken out the September low and now faces the ugly prospect of a fall to the pre-US-election levels.

That is not a pretty picture.

Add in the net long of 113K in USD/JPY futures and you have a recipe for some real pain.

If I had one big takeaway from all the crazy price action in markets in February so far, it would be: No matter the environment, USD/JPY struggles.

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