© Dukascopy Bank SA
- CIBC World Markets (based on Reuters)
Pair's Outlook
After opening pair tried to continue its rally and step up above 108 JPY, but crumbled after hitting 107.88 and at the moment is trading almost 100 pips below this mark. We can rather confidently say that is not the last attempt to reach new high, but for the time being we can just watch if 106.70 will be enough to at least slow down the pair or area around 106 JPY is going to ne next target.
Traders' Sentiment
Market mood stabilized and it seems that bears have upper hand as 55% of traders hold short positions on the pair. However, as expected, majority of pending orders, 56% to be exact, is to go long.
© Dukascopy Bank SA