Forex Analysis: Positions Unchanged
The stop was previously below 79, but it now makes sense to trail the stop below month-to-date lows near ¥81.70.
It's a longer-term position and I maintain that the USDJPY has set a long-term bottom. I'm further bearish both the USD and the JPY because of extremely quiet market conditions, though I'll look to trade those through our automated strategies.
I'll update any thoughts on said positions via the forex real time news feed.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up to David’s e-mail distribution list via this link.
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