Yen is still the golden bollox of late & no mistake.
Every time it's printed fresh highs, particularly v/s AUD CAD & EURO, which have been the stand out performers, the broker positional weightings have spiked indicating strong reversal positioning. A case of patiently waiting for the usual continuation set ups to begin rolling over before ensuring a decent enough percentage of average range is available, & step back into the dominant flow.
EURO will undoubtedly have neutralised a few add-in stakes from late last week during this mornings action, violating thursday & friday's highs, but the other 2 are still chugging along handsomely.
CAD/JPY positions eased back before the w/end to just under two thirds long but it unsurprisingly spiked again earlier this morning to +87.4% on the approach to 82.0 & obligingly clicked back smoothly into short continuation mode as europe came onboard.
AUD/JPY behaved similarly on the approach to 83.0 but the spike wasn't as dramatic. Having said that, unlike CAD, it's struggled to put monday's & last week's lows in the rear view mirror thus far.
Nice bonus to start the week forexspot