USD/JPY looks heavy, could fall sharply - FXWW

FXstreet.com (Barcelona) - The USD/JPY exchange rate is forming an imperfect topping formation, notes Sean Lee, Founder at FXWW, with the danger to be squarely to the downside, the Analyst added.

USD/JPY could fall heavily

According to Lee, "the market is long, the USD bull trend is being challenged, and if we see more big positional liquidation pre-holidays from the big macro players, this pair could fall heavily indeed."

JP Morgan research note bearish

The bearish view on the USD/JPY comes along the same line of thinking as Niall O'Connor, Currency Strategist at JP Morgan Securities, who recently said "the start window for another recovery leg of the JPY is currently wide open."