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  • Japanese Yen Outlook: Will USD/JPY, AUD/JPY Fall as Retail Traders Go Long?

    From dailyfx.com

    The Japanese Yen has been making a comeback over the past couple of weeks following a prolonged period of weakness this year. Retail traders have been noticing. Looking at IG Client Sentiment (IGCS), long exposure has been rising in USD/JPY and AUD/JPY. IGCS tends to function as a contrarian indicator. If this trend in positioning continues, perhaps the Yen might have more room to recover. The IGCS gauge shows that about 44% of retail traders are net-long USD/JPY. Since most traders are still biased lower, this hints prices may continue rising. However, upside exposure has climbed by 9.99% and 22.38% compared to ... (full story)

"......as Retail Traders Go Long...." And in later text it is cleared up that the source of data shows only 44% of retail traders are long! Sloppy, yes. Intentionally? Make up your own mind.

Anyway, lately volume favors the highs every time the MMs pump prices; a bearish sign.
FED is not raising 100 bps. Yesterday FED Evan, Mester was dovish, on the hand, FED Bullard was the hawkish tone. I think limited buy end and USD/JPY will reverse movement from 134-134.500 resistance zone.
I am very sure it will keep on falling for the next two days
Quoting Ftmofx
FED is not raising 100 bps. Yesterday FED Evan, Mester was dovish, on the hand, FED Bullard was the hawkish tone. I think limited buy end and USD/JPY will reverse movement from 134-134.500 resistance zone.
Ya you are right and it will now start to fall for the next two days
Quoting Chrisnjohn
{quote} Ya you are right and it will now start to fall for the next two days
How can you be so sure?
Quoting Vijen
{quote} How can you be so sure?
LOL, look at UJ now...
Quoting sfrankenfx
{quote} LOL, look at UJ now...
What happened lol
Quoting Vijen
{quote} What happened lol
Its up 400 pips and resuming bullish trend
Quoting sfrankenfx
{quote} Its up 400 pips and resuming bullish trend
True, weekly and monthly still bullish for sure
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  • Posted: Aug 2, 2022 10:38pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 9  /  Views: 2,186

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