Traders confidence has fallen since the Federal Reserve surprised markets last week by being unexpectedly hawkish.
And that has boosted the US Dollar all round and, while it is now off its highs, it continues to look firm against the Japanese Yen.
The price is in a parallel channel and has reach the peak and found resistance.
There is a warning signal though from retail trader positioning data, which are sending out a contrarian bearish signal on USD/JPY .
The Bearish target is to 110.00 and EMA200 can confirm this.
And that has boosted the US Dollar all round and, while it is now off its highs, it continues to look firm against the Japanese Yen.
The price is in a parallel channel and has reach the peak and found resistance.
There is a warning signal though from retail trader positioning data, which are sending out a contrarian bearish signal on USD/JPY .
The Bearish target is to 110.00 and EMA200 can confirm this.