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Looking to Buy USD/JPY

Looking to Buy USD/JPY

2011-10-26 11:01:00
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. Retail positioning is now at a dramatic 16:1 despite Friday's break to fresh record lows, and we can't get behind the trade until this ratio shows a serious leveling out. However, once the ratio does level out, we see risks for major medium and longer-term upside.

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