USD/JPY has fallen and it can't get up (watch CAD/JPY too)


    Shutterstock photo

    Is the lack of buying interest telling?

    This in-between the BOJ and Fed period is so tricky.

    Alone, USD/JPY looks bad. It's been in an 8-hour slide and all the bounces have been minimal. It's sitting on the lows of the day and can't hold a bid.

    What may be interesting in the next two hours is some position squaring ahead of the Fed. There's always the risk of something especially hawkish but for the USD/JPY bears, it's really a matter of holding shorts, trying to sell a bounce or selling on one of the crosses.

    One of those crosses to watch is CAD/JPY. It's fallen for nine straight days and is testing the Brexit low at the moment.

    The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

    This article appears in: Investing , Forex

    More from ForexLive




    Follow on: