© Dukascopy Bank SA
- Japanese Bank (based on CNBC)
Pair's Outlook
Today the pair is reaching towards the weekly S1 at 140.27 for the third day; however, after minor drop it rebounded to trade around the weekly and monthly PP. Also the technical indicators are protecting the 18-nation currency from a decline as the majority of them are bullish. However, if the pair slips below the 55-day SMA a selloff could start and the weekly S1 at 141.02 might be broken. We expect the pair to trade around current levels and some appreciation towards the major level at 142 is possible.
Traders' Sentiment
The difference between the bullish and bearish market participants remained the same as yesterday, 46% and 54% respectively.
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