Japanese Yen and US Dollar In Focus On Major Risk of Market Shift
- Japanese Yen sees these key risks of important reversal
- Our sentiment-based trading strategies have begun to switch direction on the Yen, Dollar
- Gold remains at risks of continued weakness on heavily one-sided sentiment
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Weekly Summary of Forex Trader Sentiment and Changes in Positioning
The Japanese Yen is at major risk of reversal as forex crowds switch direction, and indeed the biggest loser might be the US Dollar. What are our strategies trading?
Last week our proprietary retail forex trader data showed crowds remained heavily long the Yen versus the Dollar and other major counterparts. Yet much of the same traders have most recently sold into JPY gains.
It’s admittedly early to call for a major reversal of such one-sided Yen moves. Yet we can’t ignore these key risks to the USDJPY and other JPY crosses.
See specific US Dollar forecasts in the sections above, 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.