© Dukascopy Bank SA
- Nomura (based on Reuters)
Pair's Outlook
As the resistance at 102.63/55 proved to be impenetrable for now, USD/JPY retreated back to 102.26/19, where it will look for the support to launch yet another attack on the 100-day SMA and monthly PP. In case the demand here is insufficient to start a recovery, the bulls will be expected to become more active as soon as the rate gets closer to the rising support line at 101.80. Additional bullish outlook insurance is at 101.50—200-day SMA.
Traders' Sentiment
Despite a candlestick with a long body appearing yesterday, neither the sentiment of the SWFX marketplace (72% longs and 28% shorts) nor the gap between the buy (69%) and sell (31%) orders were significantly affected by it.
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