Japanese Yen Lags as S&P 500 Surges, Offers Attractive Trade Setup
- Don’t let US Dollar/Japanese Yen lull you into false sense of security
- The next Yen move could prove substantial, we’re watching key technical levels
US Dollar/Japanese Yen Exchange Rate far Underperforms Recent S&P 500 Gains
Data source: Bloomberg
Chart source: R
Two Major Technical Levels Underline Important Price Floor and Ceiling to Watch
Source: FXCM Trading Station Desktop, Prepared by David Rodriguez
Retail FX Indecision Points to Range Trading, but a Shift towards Selling Could Confirm Break
Source: FXCM Execution Desk Data, Chart Prepared by David Rodriguez
Data source: Bloomberg. Chart source: R SEE GUIDE ON READING THE ABOVE CHART
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.
Contact and follow David via Twitter: https://twitter.com/DRodriguezFX
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.