Dollar-yen rebounded from its low during today’s Asian session, rising from ¥152.887 to around ¥153.90. Retail investors are said to be focusing on short-term trading using market orders.
In today’s dollar-yen market, the pair rebounded during the Asian session, reportedly hitting ¥152.887 as the unwinding of long-dollar, short-yen positions built up since last Friday took precedence. It subsequently recovered to around ¥153.90 as the market priced in expectations of a Bank of Japan rate hike and position adjustments ran their course.
Stop-buy orders had been seen around ¥154.000 above the current level, but dollar-yen rose to around ¥154.05 shortly after 17:00, suggesting that the orders were executed. No notable orders have been observed near the current levels on either side, according to the report.
Against a backdrop of continued wide market swings, retail investors are said to have shifted to market orders and are focusing on short-term trading.
The source is 外為どっとコム’s “Foreign Exchange Order Information,” which is reportedly used as data for identifying areas to watch going forward.