Previous lines of support now history as safe-haven yen demand grows 5 Jan
So much for the decent line of defence at 116.00 as we saw another attack take out the support, triggering stops and posting 115.65 in a rapid rush.
O/n offshore yuan depo rates soaring again to 96.6% ( not a typo) causing the damage.
Currently back to 115.92 in equal time.
GBPJPY plummeted to 142.94 and EURJPY 122.25 close to support areas.
Yen demand generally helping to cap core pairs.
Not for the feint hearted these moves so if you're not sure keep to the side lines. Go with the flow but don't fight it. Pick your entry/exit levels and don't get too greedy if you're playing intra-day.
