USD, JPY On Verge Of Something Big
Dailyfx | Jan 21, 2014 12:01PM ET
- Retail forex traders are most short Dollar and JPY since November EUR/JPY and EUR/USD lows
- Critical question is whether next step is uptrend or this is a mere correction
- Watch video above and see charts below for full rundown on next market moves
The US Dollar and Japanese Yen have seen substantial swings in forex trading sentiment, but is this the start of a larger uptrend or mere correction?
Source: FXCM Execution Desk Data
Source: FXCM Execution Desk Data
Data source: Bloomberg, Chart source: DailyFX
Forex Correlations SummaryView forex correlations to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US 2-Year Treasury Yields and Spot Gold prices.
SEE GUIDE ON READING THE ABOVE CHART .
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com.
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