© Dukascopy Bank SA
- Mizuho Trust and Banking Co. (based on Bloomberg)
Pair's Outlook
USD/JPY pair rebounded from 80.22 level, as a positive impetus was already too weak to break the monthly R2 level, therefore the price experienced a correction and currently is traded at 79.68, where 200-day SMA goes. So, if the price settle above this line, it is very possible to see a further price appreciation.
Traders' Sentiment
According to positioning of traders, the pair is widely expected to appreciate, as the majority of traders, 71% have a long position and only 29% hold a short. Distribution between placed orders is very similar, as 78% orders are for a buy position and 22% for a sell.
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