CitiFX closed their technical trade (long at 120.89) overnight
- Took profit at 123.25
- They say they are growing more and more concerned about the set up on equity markets, saying this may lead to increased yen demand
- Also think USD/JPY may be setting up a technical pattern top for the time being
- "we remain bullish on USDJPY in the medium term, these dynamics suggest that there are better ways to play USD strength in the near-term"
