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US Dollar Outlook Positive versus Japanese Yen

US Dollar Outlook Positive versus Japanese Yen

David Rodriguez, Head of Product

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USDJPY –Retail FX traders remain long the US Dollar versus the Japanese Yen. We would normally treat this as contrarian signal that the USD/JPY could continue lower, but overall positioning has moderated from recent extremes. And indeed crowds have most recently sold into USD/JPY rallies.

Until we see a more substantive shift in sentiment we will watch for USD/JPY gains.

See next currency section: AUDUSD - Australian Dollar at Risk of Further Declines

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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