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
Bullish
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Mixed
More View more
Breaking news

FOMC leaves rates unchanged as expected; SEPs show Fed to keep rates on hold through 2020

Japanese Yen Downtrend Remains Intact

Japanese Yen Downtrend Remains Intact

2014-12-18 15:35:00
David Rodriguez, Head of Business Development
Share:
Japanese Yen Downtrend Remains Intact

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

USDJPYImpressively choppy price action in the Dollar/Yen exchange rate and JPY crosses has led to similarly indecisive moves in sentiment. Until we see an important shift we see remain cautiously bullish.

Trade Implications – JPY Pairs:Last week we highlighted risks that the USDJPY may have set an important top as we saw a substantial shift towards retail FX crowd buying. Yet the opposite has since happened, and it seems as though the broader uptrend remains intact. We see little choice but to remain cautiously bullish until we see more concrete signs of a lasting reversal.

See next currency section:AUDUSD - We Favor Selling Australian Dollar until this Changes

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

Japanese Yen Downtrend Remains Intact

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.