Yen Weakness May Not Be Finished in Early-2014
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
USDJPY – The retail crowd remains tentatively short the USDJPY, and further evidence of a growing bullish bias towards the Yen keeps our systems looking the other way.
Trade Implications – JPY Pairs: Retail traders have become less long the Japanese Yen since last week, which suggests that there may be further gains yet ahead in several of the JPY-crosses (GBPJPY and USDJPY). However, we note that recent shifts in positioning do not provide the same clarity for EURJPY.
Written by Christopher Vecchio, Currency Analyst for DailyFX.com
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 Christopher via
Twitter at http://www.twitter.com/CVecchioFX
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.