The Yen Fights Back
Matt Simpson October 22, 2021 2:48 AM
Shorting the yen has been the ‘go-to’ trade of the past 4-weeks. Yet sentiment seems to have changed in the past 24-hours, and we think it’s time for its correction to deepen.
In today’s video we take a broader view of select JPY crosses, with some appearing on track for form bearish reversal candles heading into the weekend. And that could set the tone for further yen appreciation next week (and mean reversion to take hold). That said, some pairs may be more suitable for bearish setups than others depending on how general appetite for risk plays out over the coming session/s.
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