Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
USDJPY – The US Dollar remains poised to hit fresh highs versus the Japanese Yen, and until we see a significant turn in sentiment we’ll remain in favor of buying.
Trade Implications – JPY Pairs: Last week we noted, “the recent USDJPY breakout versus the Yen leaves us plainly reminiscent of the breakout we saw in November of last year. … As long as crowds continue selling, we’ll continue to call for further USDJPY strength.” Fairly stable crowd sentiment leaves our bullish trading bias intact, and indeed there’s no significant resistance until key reaction highs at ¥110.
See next currency section:AUDUSD - Australian Dollar Remains a Sell until this Changes
Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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
