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DailyFX Home / Forex Technical Analysis / Speculative Sentiment Index

SSI: The Speculative Sentiment Index

Symbol LastWeek Present %Long Change:
Open Interest
Signals Chart Links

The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.


Japanese Yen Downtrend Remains Intact

Japanese Yen Downtrend Remains Intact

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USDJPYImpressively choppy price action in the Dollar/Yen exchange rate and JPY crosses has led to similarly indecisive moves in sentiment. Until we see an important shift we see remain cautiously bullish.

Trade Implications – JPY Pairs:Last week we highlighted risks that the USDJPY may have set an important top as we saw a substantial shift towards retail FX crowd buying. Yet the opposite has since happened, and it seems as though the broader uptrend remains intact. We see little choice but to remain cautiously bullish until we see more concrete signs of a lasting reversal.

See next currency section:AUDUSD - We Favor Selling Australian Dollar until this Changes

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Japanese Yen Downtrend Remains Intact

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