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Across The Spread
Is The Yen Broken?

Is The Yen Broken?

A market-forensic follow up on JPY's insanity over the past 24 hours, what it means (and what it doesn't), and what's ahead.

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Weston Nakamura
Dec 08, 2023
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Across The Spread
Is The Yen Broken?
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Yesterday, I posted the article below:

Heads up: Potential JPY Surge In Immediate

Weston Nakamura
·
December 7, 2023
Heads up: Potential JPY Surge In Immediate

Flagging massive $1.6bn JPY call options open position

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Here is what had transpired thereafter:

That’s USDJPY with a single day trading range from 147 down into the 141 handle, and at one point seeing JPY surging over +2% on $1.4bn notional volume traded within a span of 90 seconds - then whipsawing back down again in a spectacular blow off top.

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