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BREAKING: USDJPY pulls back from fresh high

3:56 PM 21 October 2022

In the afternoon we can observe some dollar weakness as chances for an extra FOMC rate hike this year and a higher terminal top are diminishing following WSJ news. EURUSD jumped above 0.9801 level, however the largest move can be observed on the USDJPY pair additionally fueled by speculation regarding another intervention by the BoJ. Last week's BofA survey showed that USD longs are the most popular transactions among traders so it's not a surprise to see big moves in retracements.

USDJPY bounced off a new high at 152.00 on Friday and is currently testing local support at 150.00. Source: xStation5

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