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- Aoyama Gakuin University (based on Bloomberg)
Pair's Outlook
The 18-nation currency has not changed much against the Japanese Yen in the last two trading days. It seems that the weekly PP at 146.65 is holding the pair at the current trading level, namely around the 147 mark. However, if the pair slides below the weekly PP, then most likely the decline will continue towards the 2013 high at 145.69. At the same time the daily and monthly technical indicators suggest that the pair is oversold.
Traders' Sentiment
With the lack of volatility in the market the SWFX traders' have changed their sentiment to more bearish, at the time of writing the amount of short positions have increased to 66%, after being at 59% a day earlier.
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