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- Rochford Capital (based on Bloomberg)
Pair's Outlook
USD/JPY starts this week very confidently and firmly, as the price breached 80 Yen per Dollar mark, bringing currency course to the 3-month high. After Asia trading session, exchange rate has stabilized around 0.7996 level, but, however, it is very likely that it will reach 80.18, where the monthly R2 lies. Technical indicators show first signs of overbuying USD/JPY, as the H4 RSI has value of 79 and D1 value of 71.
Traders' Sentiment
SWFX market data shows, that despite the huge price increase in recent days, traders' sentiments remain the same, as 74% have a long position and 26% hold a short. Pending orders market has huge expectations to see the further price increase, as 85% orders are buy and only 15% are for a sell position.
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