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Video: Watching Critical Levels on Japanese Yen as Volatility Jumps

Video: Watching Critical Levels on Japanese Yen as Volatility Jumps

David Rodriguez, Head of Product

Video summary: I think the Japanese Yen has further room to run as the USDJPY nears critical support, while a broader US Dollar sell-off offers similarly attractive trade setups in other pairs.

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

forex_video_japanese_yen_the_top_trade_in_the_week_ahead_Copy_body_Picture_1.png, Video: Watching Critical Levels on Japanese Yen as Volatility Jumps

We’re still seeing options traders pay big prices for USDCHF, NZDUSD, USDCAD, AUDUSD, and USDJPY volatility. And as such, Breakout2 remains my favored strategy.

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.

forex_video_japanese_yen_the_top_trade_in_the_week_ahead_Copy_body_1a.png, Video: Watching Critical Levels on Japanese Yen as Volatility Jumps

Automate the Breakout2 trading system via the FXCM Apps store

--- Written by David Rodriguez, Quantitative Strategist for

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Contact David via Twitter at

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