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USD Surges Vs. Yen — WhatWill Take It Higher?

Published 11/19/2014, 12:48 PM
Updated 07/09/2023, 06:31 AM
  • Japanese Yen at critical price levels versus US Dollar, next move key
  • Focus shifts to FOMC Minutes and Fed policy as correlations to yields surge
  • Clearly one-sided sentiment leaves us focused on USD/JPY gains, JPY declines
  • The US Dollar continues to surge versus the downtrodden Japanese Yen. What could determine whether the USDJPY breaks even higher?

    Japanese Yen Tests Critical Levels versus US Dollar

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

    Strong Correlations to US Treasury Yields

    Data source: Bloomberg, Prepared by David Rodriguez

    Short Interest in USDJPY Hits Record

    Source: FXCM Retail FX Positioning Data, Prepared by David Rodriguez.

    Forex Correlations Summary

    FX Correlations

    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.

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