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"While they [manufacturing jobs] are rebounding in numbers, which is good news, they are not delivering on the wages front."
- NELP (based on CNBC)
Pair's Outlook
It seems that the USD/JPY currency pair decided to start moving away from the 118 major level, around which it hovered for past five days. As the decision was taken in favour of US dollar's decline, the pair was immediately stopped by the weekly R1 and monthly R2 at 117.30. For the time being the continuation of a downtrend looks highly unlikely, taking into account these strong supports and bullish technical studies in short and medium-term.
Traders' Sentiment
Distribution between bullish and bearish positions on the SWFX market remains unchanged for a third consecutive day. At the moment the former take up 52% of them and the latter are in a slight minority with 48% of all opened positions.
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