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Nov 27 - 06:55 AM

USD/JPY - FX Traders Fleeing USD/JPY Most Of The Week Data Shows

By Martin Miller  —  Nov 27 - 06:30 AM
  • FX traders keep a lid on USD/JPY risking its demise nL1N2IC0NN

  • EBS flow data shows traders exiting USD/JPY most of this week

  • USD/JPY outlook bearish as the "bull trap" still weighs nL1N2IC0DJ

  • USD/JPY has dropped from 104.27 to 103.90 Friday, according to EBS prices

  • Thin on lack of participation post-US Thanksgiving, volume looks to be low

  • USD/JPY and EUR/JPY 30/60-day correlations remain well above +0.50

  • So a USD/JPY drop will likely drag EUR/JPY with it

EBS Flow Data Chart: Click here

Source:
Refinitiv IFR Research/Market Commentary

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