USD/JPY breaches the 20-day SMA

The Japanese Yen remains under bullish pressure, as the price has been depreciating for a second straight week. Currently, the pair is just above the 20-day SMA at 94.38 and attempts to breach it. Settlement in the lower part of Bollinger bands, would open a free area for further depreciation: the 55-day SMA intersects with the weekly S2 at 92.58 and the lower Bollinger band is positioned at 91.55.

SWFX market participants increased bullish sentiments over the weekend, as the buy side expanded by 2% and reached 84%. Placed orders segment has 63% of buy orders and 37% of sell ones.