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US Dollar Surges versus Yen - What Could Force it Even Higher?

US Dollar Surges versus Yen - What Could Force it Even Higher?

David Rodriguez, Head of Product

- Japanese Yen at critical price levels versus US Dollar, next move key

- Focus shifts to FOMC Minutes and Fed policy as correlations to yields surge

- Clearly one-sided sentiment leaves us focused on USDJPY gains, JPY declines

The US Dollar continues to surge versus the downtrodden Japanese Yen. What could determine whether the USDJPY breaks even higher?

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

Japanese Yen Tests Critical Levels versus US Dollar

US Dollar Surges versus Yen - What Could Force it Even Higher?

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

Strong Correlations to US Treasury Yields Keep the US FOMC Minutes, Fed Policy in Focus

US Dollar Surges versus Yen - What Could Force it Even Higher?

Data source: Bloomberg, Prepared by David Rodriguez

Our Retail FX Data Sample Shows Short Interest in USDJPY Hits Record, Favors Gains

US Dollar Surges versus Yen - What Could Force it Even Higher?

Source: FXCM Retail FX Positioning Data, Prepared by David Rodriguez.

Follow any updates on the Japanese Yen, 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.

US Dollar Surges versus Yen - What Could Force it Even 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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