© Dukascopy Bank SA
- St. George Bank Ltd. (based on Bloomberg)
Pair's Outlook
USD/JPY has travelled as low as 91.12 until it hit a sufficiently strong support area capable of negating the bearish impetus. Now the pair looks ready for a recovery, although it is likely to encounter difficulties starting with 93.14, above which there is a number of notable resistance levels. In the meantime, the technical indicators are mixed.
Traders' Sentiment
On average in its crosses the Japanese Yen is bought in 30% of cases. The similar situation is on USD/JPY, where 28% of positions are short. As for the pending orders, 71% of them are the buy ones and the rest, 29%, are to purchase the greenback against the Asian currency.
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