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- Global-info Co (based on Reuters)
Pair's Outlook
The USD/JPY currency pair remained completely flat on Tuesday, due to lack of impetus, as US fundamentals broadly fell in line with expectations. Moreover, the pair is located under a couple of strong resistances, with the most important level among them being the 55-day SMA, as it kept the Greenback at bay since the previous week. Even though technical indicators imply a bullish development is due, we should not rule out the risks of the Buck falling down to the 105.00 major level, which somewhat acts as an interim support area before the immediate cluster around 104.00.
Traders' Sentiment
Market sentiment remains unchanged, with bulls outnumbering the bears by only two percentage points. Meanwhile, the share of purchase orders also remains the same, taking up 54% of the market.
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