© Dukascopy Bank SA
"Japan's economy looks bleak. The pressure for the BOJ to ease further is likely to increase, lending support to the dollar-yen"
- Mizuho Financial Group (based on Bloomberg)
Pair's OutlookAs
for today's morning, USD/JPY pair attempts to breach the 200-day SMA at
79.43 again. Currently, the price is slightly lower at 79.28 and if
today it stays and tomorrow opens beneath the moving average, it is very
possible to see a continuation of a downside trend. However, to do
that, USD/JPY pair also has to break through the monthly PP at 79.34 and
the lower Bollinger band at 79.19.
Traders' SentimentSWFX
market players' sentiments are constant and extremely bullish, as the
buy side occupied 73% and the sell side 27%. Placed orders segment
maintain huge bullish support, as 81% orders are buy and only 19% are
sell.
© Dukascopy Bank SA