I’m hearing that the yen buying, particularly USDJPY, is due to month-end flows
That generally means the trend stays in place for most of the day with a lot of it done at the 15.00 GMT fixing
We’ll see what happens given we have US GDP before that
USDJPY currently 97.68 after 97.58 lows EURJPY 129.78
GBPJPY looking very ugly at 148.55 on the buy yen/sell pound double whammy. Call me a coward but I wouldn’t recommend catching this falling knife just yet.
