Yen Weakness May Not Be Finished in Early-2014
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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
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.