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US Dollar and Japanese Yen Likely to Fall Further

US Dollar and Japanese Yen Likely to Fall Further

2011-03-31 16:00:00
David Rodriguez, Head of Product
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EURUSDEuro Forecast to Continue Rally

GBPUSDBritish Pound Bias Turns Bearish

USDJPYJapanese Yen Outlook Calls for Losses

USDCHFSwiss Franc Rallies to Continue

USDCADCanadian Dollar Forecast to Rally Further

GBPJPYBritish Pound Outlook Bullish against Yen

Continued Japanese Yen and US Dollar declines have been met with fairly aggressive crowd buying, giving contrarian signal to sell into USD and JPY declines. We previously claimed that initial signs of sentiment extremes warned of a potential Euro/US Dollar top, but renewed rallies have dashed hopes of an important turnaround. For the Japanese Yen, short interest now stands at its highest levels since the pair traded above the 85.00 mark in September, 2010. Short-term momentum and crowd sentiment favors continued US Dollar and Japanese Yen declines.

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, US Dollar and Japanese Yen Likely to Fall Further

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