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USDJPY Surges Above ¥100, and We Like Buying

USDJPY Surges Above ¥100, and We Like Buying

2013-11-14 15:45:00
David Rodriguez, Head of Product

- Dollar surges versus Yen and a substantial shift in forex sentiment favors gains

- Greenback forecasts are mixed, however, and further losses seem likely versus other pairs

- Our sentiment-based trading systems are positioned for Yen and Australian Dollar selling

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

View individual currency sections:

EURUSD - Euro Likely to Trade to Fresh Highs Versus Dollar

GBPUSD - British Pound Forecast Calls for Strength

USDJPY - Dollar Has Broken ¥100 - Why are Further Gains Likely?

XAUUSD - Gold Prices Forecast to Fall Further

SPX500 - It Seems Needlessly Dangerous to Sell S&P 500 Here

AUDUSD - Australian Dollar Weakness Sees No End in Sight

Weekly Summary of Forex Trader Sentiment and Changes in Positioning

ssi_table_story_body_Picture_12.png, USDJPY Surges Above ¥100, and We Like Buying

The USDJPY has surged above ¥100, and a substantial shift in crowd sentiment favors further gains. Yet the USD remains at risk versus the Euro and British Pound.

Our retail FX sentiment-based strategies have bought the US Dollar versus the Japanese Yen and Australian Dollar (long USDJPY and short AUDUSD) while selling it versus the Euro and British Pound (long EURUSD and GBPUSD). The admittedly mixed implications suggest some of the best trades might be in the cross rates.

Past performance is not indicative of future results, but our purely sentiment-based Momentum2 strategy has had an impressive run trading the EURAUD and select JPY cross rates.

See specific US Dollar forecasts in the sections below, and sign up for future e-mail updates via this author’s e-mail distribution list.

ssi_table_story_body_Picture_13.png, USDJPY Surges Above ¥100, and We Like Buyingssi_table_story_body_Picture_5.png, USDJPY Surges Above ¥100, and We Like Buying

Automate our SSI-based trading strategies via Mirror Trader free of charge

--- Written by David Rodriguez, Quantitative Strategist for

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

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