© Dukascopy Bank SA
- Rabobank (based on FXStreet)
Pair's Outlook
The US Dollar succeeded in outperforming the Japanese Yen for another day on Thursday, having retaken the 105.00 major level. The USD/JPY currency pair could now post more gains, as technical indicators are giving mixed signals, rather than bearish, like yesterday. However, the main picture is to be drawn by the US fundamental data today, as poor figures might also cause the Greenback to weaken and, thus, to retreat below 104.00. Moreover, there is a strong resistance cluster, located around 106.50, which is likely to prevent the pair from edging significantly higher.
Traders' Sentiment
For the fifth day this week the share of bulls inched down. There are now 57% of traders being long the Buck (previously 61). At the same time, the portion of sell orders surged from 41 to 70%.
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