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- Nomura Securities Co. (based on Bloomberg)
Pair's Outlook
Yesterday USD/JPY pair rebounded from the 200-day SMA at 79.65 and moved up to the weekly PP at 79.75. Currently, pair made a spike down amounting to 50 pips. If this sharp movement is sustainable, then the next support might be met at 79.06/14, where the monthly R1, weekly S1 and 20-day SMA go. If it is just a short term movement, resistance levels will be 79.60/75 area or 80.18/28 zone.
Traders' Sentiment
SWFX market participants hold harshly bullish sentiments on USD/JPY pair, as 71% have a long and 29% have a short position. Placed orders segment's distribution is even more single-minded, as 80% orders are buy and only 20% are sell.
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