USD/JPY volatility rises as Nasdaq 100 speculators cut bullish positions

USD/JPY traded in a volatile 145.80-146.50 range as latest CFTC data revealed speculators reduced net long positions in Nasdaq 100 futures by 12%, signaling risk-off sentiment. The positioning shift reflects growing caution in equity markets, traditionally supporting yen strength as a safe-haven currency. AUD/USD fell 0.3% to 0.6420 as risk-sensitive currencies weakened. Gold spot prices in USD terms gained 0.8% to $2,655, benefiting from the defensive market tone. Technical analysis shows USD/JPY facing resistance at 146.50 (50-day MA) with support at 145.50 (recent low). The reduction in tech sector bullish bets suggests potential further yen strength if equity markets correct. Traders should monitor US stock futures and Asian equity openings for directional cues on yen crosses.