© Dukascopy Bank SA
- IG Markets (based on CNBC)
Pair's Outlook
USD/JPY firmly steps higher, as the pair checked the Bollinger band yesterday and during today's trading session continues to appreciate. The price has set a new high, increasing to the highest level in three and a half years. The next resistance lies at 96.35, where the monthly R2 converges with the weekly resistance.
Traders' Sentiment
Traders decreased their long positions fractionally, as the has reached a three-year high. Currently there are 68% of long positions and 32% of short. Pending orders' segment is heavily orientated to further appreciation, as 79% of orders are placed for a long position and 31% for a short.
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