If you mean the move up on Yen crosses at the U.S Open? it wasn't out of nowhere or a surprise move, no.
Eastern European, Mid East & local (UK & European) Banks & Fund houses were on the bid in large size late into the London morning & early New York trade. Not only was it all over the wires, but visible on your technical charts all morning (displayed via the higher low steps on your intraday chart).
Euro was given a lift on the back of the cross activity to all time highs too.
When you see this type of price action forming, followed by a powerful spike through layers of s&r it's usually a heads up that serious money is on the ticket.
|