Normal service is resumed as yen demand returns

Yen pairs in retreat again after thre earlier spike 6 MarchIt’s not a change back to risk-off sentiment, merely an over-cooked rally in the fickle world of forex being faded as I warned in my post earlier.
USDJPY failed into 106.50 again and now 106.03 with prime mover GBPJPY down to 147.32 from 148.02 ( see same pattern/paths below), EURJPY 131.41 from 132.02 and AUDJPY 82,85 from 83,33  to name just three.
These moves lower also capping core pairs. GBPUSD down to 1.3888 from 1.3930, EURUSD 1.2391 from 1.2415 and AUDUSD 0.7810 from 0.7843#
I also warned earlier that we might see AUDUSD drop back into 0.7800 with large options expiring there today.Other option interest today too far away to be of real impact.
Like I said in the headline, do not adjust your sets. Normal service is now resumed.                                                            GBPJPY

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