- IG Markets (based on Bloomberg)
Pair's Outlook
USD/JPY pair attains new highs and continues to skyrocket, maintaining the tendency of the last few months. The currency pair currently breaches the upper Bollinger band and the monthly R1 level at 92.27. The next resistance will be at a 93.36/54 area, where the monthly R2 merges with the weekly R1. The RSI value remains in an oversold zone, as the index has a value of 86 in a weekly graph.
Traders' Sentiment
Traders are confused about current situation in USD/JPY, as the pair moves north without any serious corrections, thus 49% of positions are long and 51% are short. Pending orders segment is strongly bullish, as 87% of orders are buy and only 13% are sell.
© Dukascopy Bank SA
© Dukascopy Bank SA