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Forex: Hedge funds adding Yen shorts post G-20 - FXWW

The USD/JPY has been trading softer throughout the day, yet sellers still appear to make half-hearted attempts to commit enough flows through next immediate support area at 93.25/30, where a reversal in the last 2 hours of trading has taken the price up above 93.50 again. The pair ends the day 0.32% lower.

As FXWW founder Sean Lee notes: "The heavy selling from earlier in the week above 94.00 does seem to be putting an interim top in place. Technical traders are still watching a possible H&S developing (see chart). Hedge fund Yen shorts are at quite extreme levels but Prime Brokers report that they have been adding to these already large positions post-G20.

Wall Street closes at multi-year highs

News from Europe has fueled sentiment on Tuesday and the US stocks market have closed higher the day. More M&A deals has spurred DJIA and S&P to 5 years highs and the Nasdaq to 12-year maximum.
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