JPMorgan warns that if the US dollar falls below the 155 level against the Japanese yen, about 16 trillion to 17 trillion yen (about 102.6 billion US dollars) of open yen short positions may be concentrated and liquidated, pushing the US dollar against the Japanese yen to the range of 142 to 146. JPMorgan strategist Shunya Tanaka stated that large-scale yen shorts may not have been fully cleared, and the selling risk increases after the US dollar falls below 155 against the yen. Japan's top foreign exchange official, Jun Mimura, expressed dissatisfaction with the current trend of the yen and stated that Japan is prepared to deal with fluctuations in the foreign exchange market. Bank of America tends to short the US dollar against the Japanese yen, with a target level of 149.
