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.

Free Trading Guides
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bullish
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • Commodities Update: As of 13:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 4.31% Gold: -1.86% Silver: -2.24% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/LFsykmg4W9
  • Heads Up:🇨🇦 Ivey PMI s.a due at 14:00 GMT (15min) Previous: 22.8 https://www.dailyfx.com/economic-calendar#2020-06-05
  • Gold Sinks, USD/JPY Surges as NFP Report Smashes Expectations - via @DailyFX https://t.co/csSLlNVzVJ
  • Indices Update: As of 13:00, these are your best and worst performers based on the London trading schedule: France 40: 3.25% Wall Street: 2.70% Germany 30: 2.65% US 500: 1.90% FTSE 100: 1.79% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/GyZ4oc1mGG
  • me and other market bears after that NFP print.... https://t.co/NFQOzKWtNG
  • 🇷🇺 Foreign Exchange Reserves Actual: $566.1B Previous: $566B https://www.dailyfx.com/economic-calendar#2020-06-05
  • US #NFP report for May 2020 crushed the median estimate on Wall Street looking for -7.5 million jobs lost, but the actual figure crossed the wires at 2.5 million jobs added. Get your market update here: https://t.co/8i0L6YIqjy https://t.co/K2laOv7Unk
  • #Cable is trading around 1.2650 in early turnover and is back at highs last seen in mid-March as the pair continue to make a short-term series of higher lows and higher highs.Get your $GBPUSD market update from @nickcawley1 here: https://t.co/XCrsgxaXux https://t.co/5z8GFfyN8X
  • Heads Up:🇷🇺 Foreign Exchange Reserves due at 13:00 GMT (15min) Previous: $566B https://www.dailyfx.com/economic-calendar#2020-06-05
  • Heads Up:🇷🇺 Inflation Rate YoY due at 13:00 GMT (15min) Expected: 3% Previous: 3.1% https://www.dailyfx.com/economic-calendar#2020-06-05
US Dollar Forecast to Rally further versus Yen

US Dollar Forecast to Rally further versus Yen

2014-11-06 16:10:00
David Rodriguez, Head of Product
Share:
US Dollar Forecast to Rally further versus Yen

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

USDJPYA substantial Japanese Yen breakdown (USDJPY, xxx/JPY breakout) has been met with aggressive crowd buying. Until this changes we’ll continue to call for further JPY weakness.

Trade Implications – JPY Pairs:Our retail trader sample shows that a relatively modest 53 percent of open positions are short USDJPY, but total short interest has gained 12 percent since last week while long positions are up a lesser 11 percent. We would typically wait for more one-sided positioning before taking an aggressive stance. Yet we see little choice but to favor further Yen weakness amid such clear momentum and hyper-aggressive monetary policy from the Bank of Japan.

See next currency section:AUDUSD - Australian Dollar Remains a Sell

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

US Dollar Forecast to Rally further 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

News & Analysis at your fingertips.