© Dukascopy Bank SA
- Mizuho Corporate Bank Ltd. (based on Bloomberg)
Pair's Outlook
The pair continues to trim the recent gains and will hardly encounter any notable support levels until 90.57, the current location of the 55-day SMA and 23.60% Fibonacci retracement from a move started on Sep 28 in 2012. Just below it, at 90.02, is the monthly pivot point, which is also deemed capable of providing substantial support and reigniting activity of bulls.
Traders' Sentiment
The Japanese Yen has become even less popular currency than the Swiss Franc, since it was acquired in merely 31% of cases on average. As for USD/JPY, there bulls constitute 73% of the total amount of traders. The distribution between buy and sell orders is 71% to 29% accordingly.
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