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Dollar Coiled up for Next Big Move Versus Yen - Where's the Trade?

Dollar Coiled up for Next Big Move Versus Yen - Where's the Trade?

2014-02-19 16:00:00
David Rodriguez, Head of Product
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- USDJPY fails at key resistance, remains in tight trading range

- Trading Crowd Sentiment Suggests risks to Downside

- Yet S&P 500 gains could help the Dollar bounce off of key lows versus the Yen

Video Summary: The US Dollar continues to trade in a tight range versus the Japanese Yen. Where is the next trade?

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

Japanese Yen Remains in Tight Trading Range against Dollar

forex_trading_us_dollar_forecast_versus_the_Japanese_Yen_body_Picture_5.png, Dollar Coiled up for Next Big Move Versus Yen - Where's the Trade?

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

Retail FX Traders Remain Aggressively long the Dollar against the Yen

forex_trading_us_dollar_forecast_versus_the_Japanese_Yen_body_Picture_6.png, Dollar Coiled up for Next Big Move Versus Yen - Where's the Trade?

Data source:FXCM Execution Desk data, Prepared by David Rodriguez

Correlations Suggest Rallies in the S&P 500 May Nonetheless Take USDJPY Higher

forex_trading_us_dollar_forecast_versus_the_Japanese_Yen_body_Picture_7.png, Dollar Coiled up for Next Big Move Versus Yen - Where's the Trade?

Data source: Bloomberg, Prepared by David Rodriguez

Retail Speculators Likewise Selling Aggressively into SPX500 Gains

forex_trading_us_dollar_forecast_versus_the_Japanese_Yen_body_Picture_8.png, Dollar Coiled up for Next Big Move Versus Yen - Where's the Trade?

Data source:FXCM Execution Desk data, Prepared by David Rodriguez

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

--- 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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