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USD/JPY rally becoming two-way into 124.50 & 125

Monday, June 1, 2015 12:16 PM UTC

USD/JPY wobbly, 1st day with USD/JPY wholly below upper 21-d Bolli since May 18
Hourly Cloud twists at 123.94 at fix, hourly TrendLine & 200-HMA key by 123.75
Early signs overbought rally becoming two-way into 124.50 & 125 profit-taking/option defenses
Despite soft US Chi PMI, forecast decent jobs data seen keep Fed hike risk alive
Big surge in IMM net spec yen shorts warns of frothy trading

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USD/JPY rally becoming two-way into 124.50 & 125

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