Forex Analysis: USDJPY looks Heavy, Would buy Major Dips
I remain short the Japanese Yen, but a heavy US Dollar suggests that the USDJPY could pull back. I would buy significant declines.
I highlight the reasons for which I believe the USDJPY may see an important pullback in my weekly strategy outlook webinar.
I'll watch for reversal risk across the board and 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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.