– Don’t let US Dollar/Japanese Yen lull you into false sense of security
– The next Yen move could prove substantial, we’re watching key technical levels
– Underperformance relative to SP 500 highlights potential for USDJPY to catch up
Follow any updates on the US Dollar and other currencies via this author’s e-mail distribution list.
US Dollar/Japanese Yen Exchange Rate far Underperforms Recent SP 500 Gains
Data source: Bloomberg
Chart source: R
Two Major Technical Levels Underline Important Price Floor and Ceiling to Watch
Source: FXCM Trading Station Desktop, Prepared by David Rodriguez
Retail FX Indecision Points to Range Trading, but a Shift towards Selling Could Confirm Break
Source: FXCM Execution Desk Data, Chart Prepared by David Rodriguez
Forex Correlations SummaryView forex correlations to the SP 500, SP Volatility Index (VIX), Crude Oil Futures prices, US 2-Year Treasury Yields, and Spot Gold prices.
Data source: Bloomberg. Chart source: R SEE GUIDE ON READING THE ABOVE CHART
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.
Contact and follow David via Twitter: https://twitter.com/DRodriguezFX