JPY Talk

From the FXWW Chatroom: While USDJPY has traded softer this week, it is not collapsing in the manner it normally does when risk aversion permeates the FX markets. There appears to be some hesitation to sell USDJPY, given Japan is also a mortal enemy of N.Korea and in N.Korea’s line of fire should the situation escalate to the point of no return. We are neutral at current levels given risk-reward does not look good for either a long or short bias. Tech levels – 109.50 is strong trendline support dating back from mid-April, 110.30 is initial resistance.

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