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- Morgan Stanley (based on The Wall Street Journal)
Pair's Outlook
Pair failed around 143 JPY yesterday and plummeted till 140 JPY today. That's were the top of Ichimoku cloud is located. At the moment it is consolidating slightly above 55 and 100-day SMA/weekly S1. A solid close below this support could provoke a sell off till 139 JPY. Peak above 142 JPY could provoke the pair's bulls to push the pair above the recent high at around 143 JPY.
Traders' Sentiment
Market sentiment climbed back to 47% bearish, the same as on Monday. Bullish side of pending orders, in 50 pip range, contracted by 42% and is at 29% gauge today; in 100 pip range it contracted only by 5% and is at 63% level today.
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