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Dollar Poised to Trade off of Lows versus Yen

Dollar Poised to Trade off of Lows versus Yen

2014-06-26 13:50:00
David Rodriguez, Head of Product
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Dollar Poised to Trade off of Lows versus Yen

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USDJPY The US Dollar remains in a tight trading range versus the Japanese Yen, and our crowd sentiment data suggests the pair may continue to trade above key lows.

Trade Implications – JPY Pairs: Retail traders are heavily net-long the USDJPY, and in most conditions we would go against them and sell. Yet data shows that the crowd on average does well in slow-moving markets. FX options markets show that USDJPY volatility prices/expectations trade at record-lows. Until that changes we’ll remain in favor of joining the crowd and buying the Dollar at key support versus the Yen.

See next currency section:AUDUSD - Australian Dollar Presents Sell Opportunity

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Dollar Poised to Trade off of Lows versus Yen

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