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- Mizuho Bank Ltd. (based on Bloomberg)
Pair's Outlook
The USD/JPY currency pair also suffered from the aftermath of the ‘Brexit' vote, causing the exchange rate to drop to 99.00 yen. Nevertheless, for the moment the Greenback managed to retreat from this intraday low, while the prospects are for the pair to remain above the 102.00 level. The 102.00 mark is reinforced by the broadening falling wedge's support line, as well as the weekly S2, making that area hard to pierce even for such sharp news as the ‘Brexit'. Moreover, the Buck could even jump back above 103.00, as another demand area there might be sufficient to limit the losses.
Traders' Sentiment
Today 71% of all open positions are long, unchanged since Thursday, whereas 62% of all pending orders in the 100-pip range are to purchase the American Dollar.
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