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 Likely to Hit Fresh Highs versus Yen

US Dollar Likely to Hit Fresh Highs versus Yen

David Rodriguez, Head of Product
US Dollar Likely to Hit Fresh Highs versus Yen

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

USDJPY The US Dollar continues to trade near major highs versus the Japanese Yen, and extremely one-sided sentiment leaves us firmly in favor of buying into gains.

Trade Implications – JPY Pairs: The majority of retail traders in our sample turned short the USDJPY as it traded above ¥103. Until we see a shift towards crowd buying, our algorithms will continue to buy into Dollar strength.

There are early warnings that the USDJPY may correct lower before its next break higher, but such a pullback would likely present an attractive opportunity to buy in anticipation of further strength.

See next currency section:AUDUSD - Australian Dollar Likely to Depreciate until this Changes

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

US Dollar Likely to Hit Fresh Highs versus 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