advertisement

DailyFX+ Currency Trading Signals Aggressively Buy the Japanese Yen

Thursday, 11 September 2008 17:09:03 GMT

Printer Friendly | Email Article | RSS | Previous articles
Written by David Rodriguez, Quantitative Analyst
Our Forex Buy/Sell Trading Signals has aggressively been buying the Japanese Yen against the US Dollar, British Pound, Australian Dollar, Euro, and Swiss Franc. Both Momentum and Breakout systems expect that the JPY may continue to appreciate in these typically volatile crosses, but we do notice that our “Range” trading signal points to a ‘buy’ in each pair. Yet it is subsequently unsurprising to note that the “Breakout” currency trades are currently profitable in each the GBPJPY, AUDJPY, EURJPY, and CHFJPY, while range signals continue to try catching a bottom in these fast-falling pairs.

JPY_Crosses_2008-09-11

In our bi-weekly Forex Trading Strategy Outlook, we emphasize that “Range” trades are comparatively unlikely to succeed through the near-term. Extremely elevated currency market volatility has historically hurt range trading strategies, and we see that the 1-week DailyFX Volatility Indicator is actually at its highest levels since earlier market troubles in 2008.

Forex_Trading_Signals_2008-09-11_3

See more Forex Buy/Sell Signals on DailyFX+ and be sure to monitor any updates on these specific signals, as our automated forex signals can and do change on a daily and intraday basis.

< Prev    Next > [ Back ]