Japanese Yen Holds Critical Lows but not Likely For Long

| 25 april, 2013 | 0 kommentarer

ssi_usd-jpy_body_Picture_12.png, Japanese Yen Holds Critical Lows but not Likely For Long

Japanese Yen – The Japanese Yen has traded mostly sideways after setting multi-year lows (USDJPY highs). Our retail forex-based sentiment indicator continues to call for JPY losses (USDJPY gains).

Trade Implications – EURJPY: Our purely sentiment-based Momentum2 system boasted substantial gains trading the EURJPY and other Yen pairs through the beginning of the month, but the strategy has since flipped directly on the EURJPY and suffered losses through sideways price action. Past performance is not indicative of future results, but Momentum2 has historically been one of our most streak-prone trading strategies: it tends to do very well or very poorly for weeks and months at a time.

Our trading strategy biases have been heavily overweight Japanese Yen given that the SSI-based Momentum2 and Breakout2 systems have done very well trading it amidst massive volatility. We remain overweight these strategies (and bearish JPY, bullish EURJPY), but it’s critical to note that a highly-anticipated Bank of Japan interest rate decision could force significant swings across Yen pairs.

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_usd-jpy_body_1a_2.png, Japanese Yen Holds Critical Lows but not Likely For Long

Download all of our Sentiment-based trading strategies free via an ongoing promo on FXCMApps.com

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

Facebook at http://www.Facebook.com/DRodriguezFX

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

Din e-postadress kommer inte publiceras. Obligatoriska fält är märkta *