© Dukascopy Bank SA
- Australia & New Zealand Banking Group Ltd. (based on Bloomberg)
Pair's Outlook
USD/JPY pair continues to move inside a triangle pattern, as the price made a third high on the upper boundary at 82.44, suggesting to open a short position. But on the other hand, technical indicators return in a neutral zone, while the price is traded in a flat corridor. Therefore, it is very likely to see an extension of the upside trend.
Traders' Sentiment
Yen's consolidation increases expectations to see USD/JPY depreciation soon, as bearish sentiments improve their market share: the buy side has 64% and the sell side has 36%. Placed orders market heavily supports a Yen's depreciation, as 87% placed orders are buy and 13% are sell.
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