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Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

2014-09-23 15:00:00
David Rodriguez, Head of Business Development
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- Japanese Yen at critical price levels versus US Dollar, next move key

- May need to see US yields break higher for next USDJPY surge

- Clearly one-sided sentiment nonetheless leaves us looking for gains

The US Dollar trades at major resistance versus the Japanese Yen. What could force a break, and how might we trade it?

Follow any updates on the Japanese Yen, US Dollar, and other currencies via this author’s e-mail distribution list.

US Dollar Rally Stalls at Important 12-Year Trendline versus Japanese Yen

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.

Strong USDJPY Correlation to US Treasury Yields Highlights Potential Catalyst

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Data source: Bloomberg, Prepared by David Rodriguez

US Yields Nonetheless Hitting Major Resistance - Likewise Show Reversal Risk

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Source: TradingView.com, Prepared by David Rodriguez

Extremely One-sided Sentiment Nonetheless leaves us in Favor of USDJPY Strength

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Source: CFTC Commitment of Traders data, Prepared by David Rodriguez.

Follow any updates on the British Pound, US Dollar, and other currencies via this author’s e-mail distribution list.

Forex Correlations Summary

View forex correlations to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

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.

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