News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
US Dollar Poised to Test Lows versus Japanese Yen

US Dollar Poised to Test Lows versus Japanese Yen

David Rodriguez, Head of Product
ssi_usd-jpy_body_Picture_14.png, US Dollar Poised to Test Lows versus Japanese Yen

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

USDJPYRetail FX crowds have bought into the most recent US Dollar sell-off versus the Japanese Yen, and a contrarian view of crowd sentiment warns the pair may test fresh lows.

Trade Implications – JPY Pairs: The USDJPY break above key resistance at ¥102.75 initially left us in favor of further strength. Yet traders remain indecisive, and indeed it seems as though the exchange rate could go on to test February lows near ¥101. Given that FX volatility prices remain near their lowest levels since the onset of the global financial crisis in 2007, we view major breaks in either direction as unlikely.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_usd-jpy_body_Picture_8.png, US Dollar Poised to Test Lows versus Japanese Yen

Automate our SSI-based trading strategies via Mirror Trader free of charge

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at http://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES