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Euro Looks to Break Higher Against Yen

Euro Looks to Break Higher Against Yen

2014-05-01 14:15:00
David Rodriguez, Head of Business Development
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Euro Looks to Break Higher Against Yen

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EURJPYThe Euro looks likely to trade higher versus the Japanese Yen as retail FX traders sell consistently into EUR strength.

Trade Implications – EURJPY: With only brief exceptions, our retail trader sample has remained consistently short the EURJPY since it set a noteworthy low through early March. The combination of one-sided Euro/Yen and Euro/Dollar sentiment instills further confidence in our calls for continued EUR strength.

See next currency section: GOLD - Gold Prices Remain at Risk of Further Declines

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Euro Looks to Break Higher Against Yen

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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