Forex Flash: Hedge funds piling into USD/JPY play - FXWW
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USD/JPY
FXstreet.com (Barcelona) - USDJPY has had a meteoric rise in the past two days, breaking out of yesterday's 79.65 resistance level and as FXWW Founder Sean Lee notes, "triggering stops above 80.50 after the Abe comments."
Sean adds: "Hedge funds are again piling into this play and, with few corporate offers to slow down momentum, the rise has been very steep indeed. Next technical resistance levels come in between 81.50/75 where there is a 61.8% retracement level and a previous high."
Sean adds: "Hedge funds are again piling into this play and, with few corporate offers to slow down momentum, the rise has been very steep indeed. Next technical resistance levels come in between 81.50/75 where there is a 61.8% retracement level and a previous high."
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