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London, UK
Posts: 5 since Sep 2012
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Just looking at Yen (20:45 LON) and the JPY pairs are being pushed up, but with very little fundamental strength to underpin any such move. It's late in the trading day and less volume is needed to move stuff around for sure, but even just on a technical basis, the prognosis is a setup for a potential dump.
There's a heap of China (CNY) related data coming out in about 6 hours’ time and given the Japanese propensity for soft intervention (talking it up/down to you and me) and their direct currency swap deals failing or at least, not being renewed with the Japanese, as they squabble over a bunch of rocks in the South China Sea, I reckon this could presage a useful strengthening of the Yen over the next half-day or day or so.
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