Yen offered but for how long? - Scotiabank

FXStreet (Guatemala) - We note the potential for a reversal of JPY’s haven-driven gains in response to a moderation in the Fed’s tone.

Key Quotes:

"JPY remains most vulnerable to sentiment in the current environment, and the risk-off driven build in long CFTC positioning suggests vulnerability to near-term decline."

"USD/JPY short-term technicals: neutral-bullish—signals are slowly shifting. We focus on the January 4th open around 120.20."