Dollar Continues to Offer Trade Setups versus Yen

By DailyFx | Updated July 30, 2014 AAA - Dollar Continues to Offer Trade Setups versus Yen

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

USDJPY Retail forex traders remain heavily long the US Dollar versus the Japanese Yen, and extremely low volatility makes buying at support our preferred strategy until further notice.

Trade Implications – JPY Pairs: Last week we noted that our positioning data showed retail traders at their most net-long the Dollar versus the Japanese Yen since it bottomed at ¥98 in October. Positioning has since moderated as traders take profits on some of those long positions.

We expect that the trading crowd will continue to catch important turns as extremely low volatility favors mean-reversion trading strategies. We’re looking to buy near support near ¥100.80 and 101, while resistance is well-defined at ¥102.25 and 102.75.

See next currency section:AUDUSD - Australian Dollar Likely Set Important Price Top

Written by David Rodriguez, Quantitative Strategist for

Dollar Continues to Offer Trade Setups versus 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

You May Also Like

Related Forex Analysis
  1. Forex News

    Forecast: Dollar Faces NFPs, Euro Anticipating Greece and Risk Languishes

  2. Forex News

    USD/JPY Holds 118.20 Support Ahead of Fed Rhetoric, NFP Report

  3. Forex News

    USD/JPY: Remains at risk of easing - TDS

  4. Forex News

    USD/JPY sold at 119.25; back to 119.00

  5. Forex News

    USD/JPY drops below 119.00

Trading Center