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- Hiroshi Nakaso, BOJ official (based on Reuters)
Pair's Outlook
The currency pair again retreats, lacking upward momentum ahead of the key resistance zone that stretches from 95.00 down to 94.42 and is mainly formed by the up-trend resistance line. The present weakness could be stopped by 92.89/66, but a decline to 92.15/09 appears to be more likely, even though the weekly indicators continue giving ‘buy' signals.
Traders' Sentiment
An overwhelming majority of the SWFX marketplace participants (72%) believe the tendency of USD/JPY to rise is going to reveal itself once again, as they are holding long positions. The difference between the shares of buy (70%) and sell (30%) orders is unchanged.
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