USD/JPY Benefits as Precious Metals Longs Unwind; Risk Sentiment Shifts

Fresh long positions in precious metals are being squeezed out, supporting a shift in risk sentiment that benefits safe-haven currencies and the US dollar. USD/JPY has found support as the unwinding of crowded gold and silver positions triggers broader market repositioning. The move reflects profit-taking in commodities that had surged on geopolitical concerns and inflation hedging. EUR/USD faces headwinds from this dynamic, while USD/CHF gains as both the dollar and Swiss franc attract haven flows. The Nasdaq 100's performance suggests technology stocks are weathering the shift relatively well, though currency markets are showing clear signs of risk reduction. Technical indicators point to further USD strength if precious metals continue their correction, with USD/JPY eyeing resistance at 150.50 while EUR/USD tests support near 1.0800.