February 07, 2023 16:00 GMT
USD/JPY Sales Pick Up Headed Through to the WMR Fix
- USDJPY selling pressure picking up through to the London WMR fix, with USD/JPY shedding an impressive 60 pips or so over the past 30 minutes.
- Activity and volumes have picked up to match the price action, with the best volumes of the day crossing in the past 20 minutes.
- This puts the pair through the Monday low at 131.52 and weakness through 131.20 would close the Friday gap.
- Few headlines or news drivers behind the move, but does coincide with a broader risk-off, as gold gains, the USD ebbs lower and the e-mini S&P heads back toward session lows.