12 May 2015
SEB: USD/JPY upward pressure mounting - eFXnews
FXStreet (Barcelona) - The Research Team at SEB note that the recent positioning report, and the price action in USD/JPY suggests that markets are now positioning for an upside move in the pair, as noted by eFXnews.
Key Quotes
“Since a few weeks back the downside pressure seems not only to have decreased but also to have turned to the upside. We are now more frequently making attempts above the 55d ma band than below it.”
“The behavior is clearly interesting and especially so in the light of the latest CoT report that showed that the market now seems to be rebuilding a short yen/long dollar position (position increased from $0.6mio to $3.25 bio during the latest reporting period).”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“Since a few weeks back the downside pressure seems not only to have decreased but also to have turned to the upside. We are now more frequently making attempts above the 55d ma band than below it.”
“The behavior is clearly interesting and especially so in the light of the latest CoT report that showed that the market now seems to be rebuilding a short yen/long dollar position (position increased from $0.6mio to $3.25 bio during the latest reporting period).”
This content has been provided under specific arrangement with eFXnews.