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- Commonwealth Bank of Australia (based on Bloomberg)
Pair's Outlook
USD/JPY pair made a peak at 81.55 during Friday's trading session and that was the highest point in 7 months. The RSI indicator in a daily graph has reached 72.7 points in the peak point, however, this value forms a down-trend in the RSI graph, what makes a divergence with the price's uptrend. In case the price still has a momentum, it may reach 81.65, a historical resistance level, and 82.34, the weekly R1 level.
Traders' Sentiment
USD/JPY pairs maintains a significant bullish status, as the market has huge expectations on the Yen depreciation. 73% of traders have a buy position and 27% have a sell position. Placed orders market data reached 88% benchmark of placed orders for a bullish position.
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