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Japanese Yen Sentiment Shows Signs of Capitulation, Reversal Increasingly Likely

Japanese Yen Sentiment Shows Signs of Capitulation, Reversal Increasingly Likely

2011-03-17 15:29:00
David Rodriguez, Head of Product
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EURUSDEuro May have Set Important Top vs USD

GBPUSDBritish Pound Forecast Unclear Amidst Shift

USDJPYJapanese Yen Shows Signs of Capitulation

USDCHFSwiss Franc Rallies Could Slow

USDCADCanadian Dollar Likely to Continue Lower

GBPJPYBritish Pound Forecast Less Clear against JPY

Noteworthy forex market volatility has produced similarly sharp moves in currency trading crowd sentiment, clouding short-term outlook for the resurgent US Dollar and Japanese Yen. Last week we claimed that a sharp shift towards US Dollar selling gave contrarian signal to go long the downtrodden USD. Yet extreme choppiness in the past 7 days makes it difficult to make short-term forecasts with any sort of conviction. Hints of capitulation in Forex Options and Futures markets warn that the Greenback may have set an important bottom against the Euro, Australian Dollar, British Pound, and Canadian Dollar through recent trade. Caution is nonetheless advised as volatility expectations have jumped substantially through recent moves.

View an FXCM Expo presentation on the Speculative Sentiment Index for better understanding on how we use it in our trading.

ssi_table_story_body_Picture_5.png, Japanese Yen Sentiment Shows Signs of Capitulation, Reversal Increasingly Likely

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