Further Euro Weakness Likely versus Yen

Further Euro Weakness Likely versus Yen

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EURJPY – Heavily one-sided forex trader positioning leaves our trading bias negative on Euro pairs, and a further breakdown versus the Japanese Yen seems likely.

Trade Implications – EURJPY: Traders have consistently bought into recent EURJPY declines, and we see a number of key factors which suggest the pair may fall to further lows on a broader Euro turn lower.

See next currency section:EURUSD - Euro Forecast favors Weakness

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

Further Euro Weakness Likely versus Yen

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