U.S. Markets closed

Dollar at Risk of Breakdown versus Japanese Yen

David Rodriguez
ssi_usd-jpy_body_Picture_14.png, Dollar at Risk of Breakdown versus Japanese Yen

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

USDJPYForex trading crowds remain aggressively long the US Dollar against the Japanese Yen, and a contrarian view of sentiment leaves us in favor of continued USDJPY weakness.

Trade Implications – JPY Pairs: The Dollar trades at weekly lows versus the Yen and looks poised to test important support near the ¥101.30 mark. A further build in retail FX buying would favor a potentially significant breakdown in the exchange rate.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_usd-jpy_body_Picture_8.png, Dollar at Risk of Breakdown versus Japanese Yen

Automate our SSI-based trading strategies via Mirror Trader free of charge

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.