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Looking to Buy USD/JPY

Looking to Buy USD/JPY

2011-09-20 11:02:00
Joel Kruger, Technical Strategist
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We love the idea of looking to establish a long USD/JPY position at current levels but will have to wait for proper entry on the position as our in-house model is warning against taking the trade right now. Although retail positioning in long USD/JPY has scaled back dramatically in recent days from over 10:1, the ratio is still quite high and we need to wait for a normalization before officially entering the position. Still we recommend keeping a close watch for the time being.

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