Japanese Yen Faces Technical Rebound on June 16 as Speculative Short Positions Hit Extreme Levels

According to CFTC data cited by FOREX.com analyst Fawad Razaqzada, the Japanese yen faces potential technical rebound on June 16 as speculative short positions reach new extreme levels. Traders have continued to build large short bets on the yen, with positioning now at historically elevated levels that may trigger profit-taking. Razaqzada noted that Japanese authorities are more likely to intervene in currency markets given current conditions, as such intervention could prove more effective amid a more hawkish Bank of Japan stance and falling oil prices.
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