News Column

Dollar Remains a Sell versus Japanese Yen

June 5, 2014

David Rodriguez

Dollar Remains a Sell versus Japanese Yen

USDJPY - The Dollar looks likely to remain in a tight trading range versus the Japanese Yen as extremely low FX volatility keeps it below key resistance.

Trade Implications - JPY Pairs: Retail FX traders have mostly sold into the recent USDJPY bounce into key resistance and yet remain net-long. The fact that professional trader sentiment is heavily one-sided also warns the pair may turn lower before a more meaningful bounce. Watch for a reaction near 103; a break above would clearly give us pause in our bearish outlook.

See next currency section:AUDUSD - Australian Dollar Looks Safe Above Key Support

Dollar Remains a Sell versus Japanese Yen

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Source: DailyFx

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