Japanese Yen Seems Likely to Fall Further (USDJPY gain)
Trade Implications – USDJPY: Our proprietary SSI data leaves us in favor of Japanese Yen weakness, but an otherwise-bearish US Dollar forecast leaves us more in favor of going short JPY against other currencies (e.g. long AUDJPY, long EURJPY). Indeed, our Momentum2 system continues buying into EURJPY strength to good effect.
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.