USDJPY Surges Above ¥100, and We Like Buying
- 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
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Weekly Summary of Forex Trader Sentiment and Changes in Positioning
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.
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.
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--- 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.