Note: This section contains information in English only."USD/JPY remains capped by the 16 month resistance line at 118.56 and is downside corrective near term - we will need a close above here to resume its bull move."
– Commerzbank (based on FXStreet)
Pair's Outlook
[ANNOUNCE]The USD/JPY currency pair lost almost 200 pips on Tuesday, amid weak US fundamental data and the return of risk-aversion mood.[/ANNOUNCE] Losses were only limited by the third support cluster, located just above the 115.00 major level. This demand area appears to have caused the Buck to rebound, but technical indicators are unable to confirm that the bullish momentum will last. Downside risks are present, in which case the exchange rate could drop below the 114.00, with the monthly S1 then being the only support to limit the losses. Meanwhile, a positive surprise in the data is unlikely to be sufficient to negate Thursday's dips.
Traders' Sentiment
Today 52% of all open positions are long (previously 50%), whereas the share of buy orders remains unchanged at 61%.
Fri, 06 Jan 2017 09:22:16 GMT
Source: Dukascopy Bank SA
– Commerzbank (based on FXStreet)
Pair's Outlook
[ANNOUNCE]The USD/JPY currency pair lost almost 200 pips on Tuesday, amid weak US fundamental data and the return of risk-aversion mood.[/ANNOUNCE] Losses were only limited by the third support cluster, located just above the 115.00 major level. This demand area appears to have caused the Buck to rebound, but technical indicators are unable to confirm that the bullish momentum will last. Downside risks are present, in which case the exchange rate could drop below the 114.00, with the monthly S1 then being the only support to limit the losses. Meanwhile, a positive surprise in the data is unlikely to be sufficient to negate Thursday's dips.
Traders' Sentiment
Today 52% of all open positions are long (previously 50%), whereas the share of buy orders remains unchanged at 61%.