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

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

2015-09-03 15:20:00
David Rodriguez, Head of Product
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US Dollar at Risk versus Yen, but Losses Far from Guaranteed

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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

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