© Dukascopy Bank SA
- UniCredit (based on The Wall Street Journal)
Pair's Outlook
Pair dropped way below 103 JOY mark today, but unexpectedly was stopped by weekly pivot (S1) at 102.20. This bullish impetus helped pair to climb back and currently it is testing weekly pivot (PP) at 103.39. Stochastic indicators lets us believe that this rally should continue further next stop being at 104 JPY.
Traders' Sentiment
Amount of bears increased mildly since yesterday, but remains rather stable slightly above 60% mark today. Amount of pending buy orders, however, increased by 4% and reached the highest level in last week—63% of all pending orders.
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