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- Forex.com (based on Business Recorder)
Pair's Outlook
With the return of risk-off sentiment and relatively poor US inflation data yesterday, the USD/JPY currency pair was close to touching the 99.50 level, but closed at 100.30. Risks of the Buck slumping below the 100.00 psychological level are even greater, while technical indicators support this outlook with their bearish signs. The nearest level to support the pair is located at 99.78, namely the weekly S2. In case bears do take over the market, the decline is then likely to last until the 99.00 mark is reached, which is reinforced by the monthly S1, the weekly S3 and the Bollinger band.
Traders' Sentiment
Bullish traders' sentiment remains unchanged at 64%, but the number of orders to purchase the US Dollar lost 17 percentage points. The orders now take up 66% of the market.
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