Japanese Yen Outlook: USD/JPY, CAD/JPY Price Action Set-Up 2020-12-22 12:00:00 Justin McQueen, Analyst
Japanese Yen Price Analysis & News
USD/JPY | Tight Range to Persist Into the New Year Advertisement
USD/JPY | Tight Range to Persist Into the New Year
A more subdued session for USD/JPY after yesterday’s rebound stalled around the high 103s. The path of least resistance remains lower for the pair, particularly as US 10yr yields remain capped at 1%. However, as it stands, USD/JPY looks to continuing trade within a relatively tight 102.80-104.00 range into the new year. Elsewhere, recent reports stating that Japanese PM Suga had reportedly told the Japanese Finance Minister to make sure USD/JPY does not cross 100.00 (around the time of the US election) does potentially set a limit as to how much lower could the pair go. On the technical front, topside resistance sits at 103.90-104.00 with
12/21/2020 6:28:09 PM GMT | By Joel Frank
USD/JPY has slid back below the 103.50 and to Monday Asia Pacific session levels as USD strength ebbs away.
Safe-haven JPY has been one of the better G10 FX performers on Monday amid risk-off flows.
USD/JPY continues to fall back from earlier highs above the 103.80 mark as strength in the US dollar ebbs away. The pair currently trades just to the south of 103.50, with gains on the day now just 0.1% or roughly 10 pips. Indeed, USD has seen a majority of its gains eroded vs most of its major G10 counterparts since the midpoint of the European morning, with the Dollar Index (DXY) having slipped from highs above 91.00 to current levels in the 90.20s.
US Dollar Shorts Reduced, NZD/USD Bulls Stretched - COT Report 2020-12-21 09:00:00 Justin McQueen, Analyst
US Dollar, EUR/USD, USD/JPY, COT Report –Analysis
US Dollar Downtrend to Persist Despite Pullback in Shorts Advertisement
US Dollar Shorts Reduced, NZD/USD Bulls Stretched - COT Report
In the week to December 18th, CFTC data reported a sizeable drop in aggregate USD net-short positioning against G10 currencies, which fell by $2.2bln to total $27.56bln. The predominant factor behind this had been the $2.1bln unwind in net Euro longs as gross shorts saw a marked increase. However, while speculators have reduced their bearish bets in the greenback, the overall trend in the USD has remained tilted to the downside in light of a dovish Fed and continued optimism about a global recovery in 2021.