USD/JPY checks for a bullish impetus

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The fiscal cliff can be a selling catalyst for the dollar. The U.S. GDP figure will be positive for risk sentiment, spurring yen selling"
- Mizuho Securities Co. (based on Bloomberg)

Pair's Outlook
USD/JPY pair erases a negative performance of this week's trading, and slightly steps higher, checking for a spark for a new bullish impetus. Currently, the price is on the weekly PP level at 82.16 and might move to any direction from here. Although the pair is in a bullish trend, but indicators tempts about an oversold zone: in a weekly graph the price checks the Bollinger line from above and a value of RSI fluctuates in 65-77 range.

Traders' Sentiment
A majority of SWFX market participants, 72%, have and an opened long position and only 28% of traders have a short position. Pending orders segment has reached significant extend of orders for a buy position: 92% are buy orders and only 8% are sell.

© Dukascopy Bank SA

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