USD/JPY is coming under pressure once again with dollar weakness quite broad-based today. Traders have been running short-yen positions for months but have not gotten much bang for the buck in recent days. A support line on the charts lies at 96.35. A break targets the late April lows at 95.60.
Asa we mentioned yesterday, the moving averages are all tightly spooled together, suggesting a big move good be a foot.
