I would be looking more at JPY news and what might be the BOJ reaction to it and the possibility of future intervention. Sometimes central bank intervention might be one hard hit but more often it's a slow dribble to disguise the manipulation.boytoy wrote: Mon Jul 08, 2024 5:10 pm Oh ok.... what news is coming that might do anything? The only one is the Fed speech in a few days?? Or something else![]()
Good current account data last night and if good CPI data next week might relax the BOJ into backing off trying to force USDJPY down. Bad Japan data would encourage the speculators to continue shorting the Yen (long the $).
Good reason to follow the weekly COT data, watch for the speculators to either start unwinding their shorts or going deeper.