On Oct 27th we talked of the yen being in a major technical "squeeze" and that a break out was likely to result as a result of 3 potential reasons. Reason #3 was the winner!
3. BOJ Intervention could result in strong weakening of the Yen.
We ended last week with 88%+ of USDJPY traders long and wrong for many months now. Today Japan sold the yen for the second time in less than three months after it hit another all time high against the dollar last week. As usual...retail traders are
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