Euro Looks at Risk versus Japanese Yen
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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
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.