US Dollar Expected to Gain Further versus Japanese Yen

| 30 juli, 2015 | 0 kommentarer

US Dollar Expected to Gain Further versus Japanese Yen

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USDJPY Retail FX traders continue to hold USD-long positions against the Japanese Yen, and this would normally act as contrarian signal that USD/JPY could decline. Yet we have seen sentiment shift notably since last week; long positions are down 14 percent while short positions are down a lesser 4 percent.

Retail sentiment gives us an effectively mixed USD trading bias versus the Yen, but a hold of key support suggests the Greenback may indeed continue higher.

See next currency section:AUDUSD – Australian Dollar Forecast to Fall Further

Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Kategori: Analys från DailyFX

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