Euro Not out of the Woods versus Japanese Yen

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ssi_eur-jpy_body_Picture_19.png, Euro Not out of the Woods versus Japanese Yen

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EURJPYThe Japanese Yen is at a potentially significant turning point versus the US Dollar, and the fact that the Euro trades at similarly pivotal levels may point a much larger JPY rally.

Trade Implications – EURJPY: Retail traders have been far less active in the Euro/Yen currency pair as the currency consolidates within a broad range. Yet this is indeed a sign that markets are coiling up for a much larger moves. As it stands our crowd sentiment indicator gives us a fairly neutral trading bias, but a sudden build in crowd buying would favor a further EURJPY breakdown.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_eur-jpy_body_Picture_9.png, Euro Not out of the Woods versus Japanese Yen

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