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EURJPY – The Euro looks likely to trade higher versus the Japanese Yen as retail FX traders sell consistently into EUR strength.
Trade Implications – EURJPY: With only brief exceptions, our retail trader sample has remained consistently short the EURJPY since it set a noteworthy low through early March. The combination of one-sided Euro/Yen and Euro/Dollar sentiment instills further confidence in our calls for continued EUR strength.
See next currency section: GOLD - Gold Prices Remain at Risk of Further Declines
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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