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Euro Looks at Risk versus Japanese Yen

Euro Looks at Risk versus Japanese Yen

David Rodriguez, Head of Product
Euro Looks at Risk versus Japanese Yen

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EURJPYA shift in forex sentiment warns that the Euro might fall further versus the Japanese Yen.

Trade Implications – EURJPY: The forex trading crowd is once again long the EURJPY as it trades sharply off of recent highs. A contrarian view of crowd sentiment favors further weakness, and indeed this lines up well with our calls for a pullback in the Dollar/Yen exchange rate.

See next currency section:EURUSD - Euro May Have Set Important Low Following ECB Cuts

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

Euro Looks at Risk versus Japanese Yen

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