JPMorgan: Yen short squeeze risk grows if USD/JPY breaks 155

TREE NEWS reports: JPMorgan strategists said a break of USD/JPY below 155 could accelerate yen appreciation as massive yen short positions unwind. They estimate short positions at 16-17 trillion yen, and a full unwinding could push USD/JPY to 142-146. The team, including Junya Tanase, noted recent price action supports the view that relatively large shorts remain, though they see a substantive break below the assumed 155-165 range as unlikely.