Video: Watching Critical Levels on Japanese Yen as Volatility Jumps
The video outlines my views on market conditions and the USDJPY in detail, and I published a more full report on the reasons for which I think the Japanese Yen will continue higher (USDJPY lower). But in brief—I’m bearish and in favor of USDJPY-short positions as long as we remain below critical reaction highs at ¥100.50.
My DailyFX PLUS trading strategy biases are mostly unchanged from Monday with a couple of key exceptions: the Euro and British Pound don’t seem likely to break substantially in either direction. View the table below for the full rundown.
Strategy Preferences Broken Down by Volatility Pricesand Currency Trends
Things might get a bit more nuanced going forward as I believe the Dollar might actually weaken if volatility continues its recent surge.
As always, I’ll keep my thoughts updated on DailyFX and send out trade updates via my e-mail distribution list.
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--- 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.