A J.P. Morgan strategist said that if the dollar falls below 155 against the yen, further closing large short positions in the yen may accelerate the appreciation of the yen. J.P. Morgan estimates that the current size of the Japanese yen short is about 16 trillion to 17 trillion yen. If the position is fully closed, the dollar may fall to the 142-146 range against the yen. Strategist Junya Tase and others wrote in a report. Recent price trends support the judgment that “relatively large short positions in the yen may still not be lifted”. J.P. Morgan currently believes that the probability that the dollar will actually fall below its assumed range of 155-165 against the yen is not high.

A J.P. Morgan strategist said that if the dollar falls below 155 against the yen, further closing large short positions in the yen may accelerate the appreciation of the yen. J.P. Morgan estimates that the current size of the Japanese yen short is about 16 trillion to 17 trillion yen. If the position is fully closed, the dollar may fall to the 142-146 range against the yen. Strategist Junya Tase and others wrote in a report. Recent price trends support the judgment that “relatively large short positions in the yen may still not be lifted”. J.P. Morgan currently believes that the probability that the dollar will actually fall below its assumed range of 155-165 against the yen is not high.