As long as they are in the context of a floating rates environment.
The Yen sell-off has now run out of steam. USD/JPY selling is tipped to be quite heavy near 79.75 and that will dissuade any bulls from going too hard. EUR/JPY has also rallied 75 pips off earlier lows and that will probably do for now?
The positioning reports show the professional market is almost at neutral levels so there are no big shorts out there desperate to cover, nor will anybody be too keen to build a big long position ahead of the weekend.
