U.S. Markets close in 3 hrs 41 mins

Euro Not out of the Woods versus Japanese Yen

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

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

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

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

original source

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.