© Dukascopy Bank SA
"Market participants, especially those overseas, are becoming very sensitive to yen-negative headlines"
- Gaitame Online Co. (Based on Bloomberg)
Pair's Outlook
USD/JPY currency pair gradually swings lower in a H1 timeframe Bollinger bands range and permanently makes new lows, what indicates about an upside momentum weakening. If current action is correction, there is very high possibility that the price will reach 38% Fibo level at 81.39 from the last upside wave, which also crosses with an upper line of a historical flat.
Traders' Sentiment
SWFX market participants gradually strengthens their bearish positions, as the by side slips till 37% and the sell side steps till 63% market share. Pending orders reached significantly level of bullish part, as buy orders have 91% of market and sell orders only 9%.
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