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- Ichiyoshi Asset Management (based on Reuters)
Pair's Outlook
Pair did not manage to advance far and at the moment is hovering below 127. Technical indicators suggest that pair has not given up yet and we should not wait another attempt to advance to weekly and monthly R1 long. Although it might be too early to jump to conclusions, but todays developments suggest that there might be a strong support area at 126 JPY.
Traders' Sentiment
Bears are starting to loose ground. Their share in the market decreased by 3% and at the moment they account for 63% of market participants. Orders distribution suggest that this trend should continue further as 58% of pending orders are to go long.
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