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Japanese Yen Forecast to Decline Against Euro, Pound, US Dollar
Tuesday, 28 October 2008 19:47:01 GMT  |  David Rodriguez, Quantitative Analyst
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Our Forex Trading signals forecast that the Japanese Yen will continue its decline against major forex counterparts, with the vast majority of trading systems currently short the Japanese Yen against the Euro, US Dollar, and other major currencies. The only exception is a “Momentum1” system trading signal that has sold the Swiss Franc and bought the Yen. Such circumstances are remarkably similar to those surrounding the US dollar, with our trading signals similarly short the USD. The confluence of individual strategies selling US Dollars and Japanese Yen suggests that we may see further USD and JPY weakness, with retracements the key theme of upcoming forex trading.


JPY_2008-10-28

Keep track of these US Dollar trading signals and others on our Forex Buy/Sell Signals on DailyFX+ and be sure to monitor any updates, as our automated forex signals can and do change on a daily and intraday basis.

For more information and guides on using our DailyFX Buy/Sell Signals, see our Weekly Forex Trading Strategy Outlook report.

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