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

    USD/JPY threatening 118.00

  2. Forex News

    USD/JPY rally remains capped at 118.50/60 – Commerzbank

  3. Forex News

    USD/JPY falls on Amari’s comments – TradeTheNews

  4. Forex News

    USD/JPY focus remains at 118.60 – OCBC

  5. Forex News

    Japan may record the lowest inflation since June 2013 – Nomura

Trading Center