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Is it a Good Time to Get Long the Dollar versus the Japanese Yen?

Is it a Good Time to Get Long the Dollar versus the Japanese Yen?

David Rodriguez, Head of Product

- US Dollar breaking major highs versus Japanese Yen

- Our real FX volume indicator shows limited participation in the move

- Critical resistance marks major tests, while positioning warns against chasing here

USDJPY Finally Breaking Out, but Move Occurring on Low Volume and Trader Interest

Is it a Good Time to Get Long the Dollar versus the Japanese Yen?

Source: FXCM Trading Station Desktop, FXCM Real Volume and Transactions Indicator, Prepared by David Rodriguez.

Test of Critical Resistance Can Quickly Tell us if this is Lasting Breakout

Is it a Good Time to Get Long the Dollar versus the Japanese Yen?

Source: FXCM Trading Station Desktop, FXCM Real Volume and Transactions Indicator, Prepared by David Rodriguez.

Professional Positions Have Actually Grown Less Long USDJPY

Is it a Good Time to Get Long the Dollar versus the Japanese Yen?

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

Retail Traders Are Mostly Closing Long Positions as Pair Tests Highs

Is it a Good Time to Get Long the Dollar versus the Japanese Yen?

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

Follow future updates via e-mail on this author’s distribution list.

Download the release of FXCM Volume and Transactions figures via FXCMApps.com.

--- 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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