Dollar Rally Stalls versus Yen

Japanese Yen at critical price levels versus US Dollar, next move key

– May need to see US yields break higher for next USDJPY surge

– Clearly one-sided sentiment nonetheless leaves us looking for gains

The US Dollar trades at major resistance versus the Japanese Yen. What could force a break, and how might we trade it?

Follow any updates on the Japanese Yen, US Dollar, and other currencies via this author’s e-mail distribution list.

US Dollar Rally Stalls at Important 12-Year Trendline versus Japanese Yen

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Source: FXCM Trading Station Desktop, Prepared by David Rodriguez.

Strong USDJPY Correlation to US Treasury Yields Highlights Potential Catalyst

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Data source: Bloomberg, Prepared by David Rodriguez

US Yields Nonetheless Hitting Major Resistance – Likewise Show Reversal Risk

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Source: TradingView.com, Prepared by David Rodriguez

Extremely One-sided Sentiment Nonetheless leaves us in Favor of USDJPY Strength

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

Source: CFTC Commitment of Traders data, Prepared by David Rodriguez.

Follow any updates on the British Pound, US Dollar, and other currencies via this author’s e-mail distribution list.

Forex Correlations Summary

View forex correlations to the SP 500, SP Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.

Dollar Rally Stalls versus Yen - What Could Force a Break Higher?

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

This entry was posted in Binary Options Signals Related News and tagged , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *