IMM Report: EUR/JPY Vulnerable As Positioning Risks Mount

Scotiabank FX Strategy Research comments on the latest IMM report (covering up to Tuesday July 11 and were released Friday July 14).

Overall, ScotiaFX notes that this week’s report showed that CAD and EUR saw the greatest positive w/w swings while JPY suffered notably.

“CAD and CHF are held flat, while EUR, AUD, MXN and NZD are all held net long,” ScotiaFX adds. 

In particular, Scotia FX points to mounting positioning risk that leaves EUR/JPY vulnerable to a pullback on longs profit-taking.

“Bullish EUR positioning has pushed to a fresh multi-year high with the net long climbing $1.0bn w/w to $12.0bn…"JPY is the only sizeable net short ($12.3bn), followed by GBP ($1.9b),” ScotiaFX adds.

Source: Scotiabank Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews http://feedproxy.google.com/~r/Efxnews/~3/D8bMXy0IoVM/imm-report-eurjpy-vulnerable-positioning-risks-mount

from Online Forex Trading Resource
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