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Yen Weakness May Not Be Finished in Early-2014

Yen Weakness May Not Be Finished in Early-2014

2014-01-02 18:00:00
Christopher Vecchio, CFA, Senior Strategist
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ssi_usd-jpy_body_Picture_13.png, Yen Weakness May Not Be Finished in Early-2014

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USDJPYThe retail crowd remains tentatively short the USDJPY, and further evidence of a growing bullish bias towards the Yen keeps our systems looking the other way.

Trade Implications – JPY Pairs: Retail traders have become less long the Japanese Yen since last week, which suggests that there may be further gains yet ahead in several of the JPY-crosses (GBPJPY and USDJPY). However, we note that recent shifts in positioning do not provide the same clarity for EURJPY.

Written by Christopher Vecchio, Currency Analyst for DailyFX.com

ssi_usd-jpy_body_Picture_14.png, Yen Weakness May Not Be Finished in Early-2014

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