US Dollar at Make-or-Break Levels versus Japanese Yen

By DailyFx | Updated August 28, 2014 AAA

DailyFX.com - US Dollar at Make-or-Break Levels versus Japanese Yen

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

USDJPY The forex trading crowd remains short the US Dollar versus the Japanese Yen for the first time since December, and the substantial shift warns that the USDJPY is at an important turning point.

Trade Implications – JPY Pairs: We last saw traders remain short USDJPY as it traded above ¥105 in December before reversing lower. It’s entirely possible that we are at a similar price and sentiment extreme and the Dollar turns lower. Yet we’ll need to see a daily close below ¥102.75 to shift from our bullish trading bias.

See next currency section:AUDUSD - Australian Dollar Shows Signs of Important Reversal

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

US Dollar at Make-or-Break Levels versus Japanese 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 http://www.twitter.com/DRodriguezFX

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Credit Agricole: JPY remains a sell on rallies – eFXnews

  2. Forex News

    USD/JPY meanders near low

  3. Forex News

    Trend of weaker JPY and lower yields to continue – BAML

  4. Forex News

    USD/JPY frozen above 119.00

  5. Forex News

    USD/JPY dips despite weak retail sales data

Trading Center