Forex Flash: USD/JPY would face downward pressure today – Danske Bank

FXstreet.com (Barcelona) - The USDJPY has fallen from today's highs in the proximities of 82.20 to the actual levels around 81.90, as risk aversion prevails among traders on Wednesday. According to Christin Tuxen, Senior Analyst at the Nordic Danske Bank, jitters on the so-called 'fiscal cliff' have been growing bigger in the FX community, mainly after Greece sealed the deal on Monday.

"As a result focus has returned to the fiscal cliff negotiations and both USD and JPY have been in demand as negotiations likely still have major obstacles ahead. Considering the stretched positioning in not least USDJPY, the risk of further downside for USDJPY and EURJPY is evident today".