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Long the US Dollar vesus Japanese Yen

Long the US Dollar vesus Japanese Yen

2012-09-20 16:15:00
David Rodriguez, Head of Product
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Last week I went long the US Dollar against the Japanese Yen, and I believe a lasting USDJPY bottom could be in place.

The USDJPY position remains in force as long as the pair trades above ¥76. Profit targets start at ¥80 on the USDJPY.

I recently got stopped out of my EURUSD long, and my next postion could in fact be a short position.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

To receive the Speculative Sentiment Index and other reports from this author via e-mail, send a message with subject line “Distribution List” to drodriguez@dailyfx.com;

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Meet the DailyFX team in Las Vegas at the annual FXCM Traders Expo, November 2-4, 2012 at the Rio All Suite Hotel & Casino. For additional information regarding the schedule, workshops and accommodations, visit the FXCM Trading Expo website.

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