Skip to content
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 at Risk versus Yen, but Losses Far from Guaranteed

US Dollar at Risk versus Yen, but Losses Far from Guaranteed

David Rodriguez, Head of Product

View Real-Time SSI Updates via the FXCM Trading Station Desktop

See a video on why we use the Speculative Sentiment Index as a contrarian indicator in our trading

USDJPY – Retail FX traders remain aggressively long the US Dollar versus the Japanese Yen, and a contrarian view of crowd sentiment warns that the USD/JPY may trade to further lows through near-term trading. The pair’s resilience at key support near ¥120 nonetheless warns that further losses are far from guaranteed, however; we’ll need to see traction below this key price floor before we can realistically call for much larger declines.

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

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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