USD/JPY: CFTC positioning remains bullish - Scotiabank

Analysts at Scotiabank explained that JPY is quiet and testing a fresh, marginal one month high at levels last seen in late February.

Key Quotes:

"Local markets have been closed and the intraday range has been remarkably narrow on the back of light holiday trading. This week’s domestic risk is limited to Wednesday’s trade data (Tuesday PM EST) and the release of the BoJ minutes from the late January meeting."

"Yield spreads remain wide and CFTC positioning remains bearish. However, the broader tone appears tentative, and JPY’s risk profile leaves it vulnerable to knee-jerk, haven-driven gains in periods of risk aversion."

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.