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- Faros Trading (based on MarketWatch)
Pair's Outlook
USD/JPY dipped beneath the 100-day SMA, but subsequently disregarded bearish technical indicators and managed to mount 0.9038/25 once again. Thus, a surge up to the long-term moving average is still a viable scenario, also being that there is no need to breach significant levels on the way there. The only potential hurdle will be at 0.9119—weekly R1 and local highs.
Traders' Sentiment
Regardless of a lack of bullishness shown by USD/CHF, most of the traders refuse to square off their long bets—72% of positions were open to profit from the buck's appreciation. Concerning the orders placed on the pair, there is not real difference between the buy (51%) and sell (49%) ones.
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