U.S. Markets close in 12 mins.

Japanese Yen Seems Likely to Fall Further (USDJPY gain)

David Rodriguez

ssi_usd-jpy_body_Picture_14.png, Japanese Yen Seems Likely to Fall Further (USDJPY gain)

Japanese Yen – Forex trading crowds remain effectively neutral the Japanese Yen against the US Dollar but continue buying JPY across the board. We remain bullish USDJPY and other Yen crosses.

Trade Implications – USDJPY: Our proprietary SSI data leaves us in favor of Japanese Yen weakness, but an otherwise-bearish US Dollar forecast leaves us more in favor of going short JPY against other currencies (e.g. long AUDJPY, long EURJPY). Indeed, our Momentum2 system continues buying into EURJPY strength to good effect.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_usd-jpy_body_Picture_8.png, Japanese Yen Seems Likely to Fall Further (USDJPY gain)

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

Facebook at http://www.Facebook.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.