USD Squeeze Highlighted by USD/JPY Price Action?

As we spoked about on the Vantage FX Daily Market Update, Forex markets are seeing the US Dollar squeeze. You look at what’s priced in already and any technical USD weakness is going to be sold in the short term as big longs start to take off some of their size.

This squeeze was highlighted no better than in yesterday’s USD/JPY price action, as price pushed into resistance. I think it’s got a bit more juice to squeeze out of weak longs, but what are your thoughts?