Note: This section contains information in English only."BOJ officials continue to give no signal the central bank will be willing to act in concert with the government and implement helicopter-money style policies. Dollar-yen is still likely to trade heavily until the U.S. payrolls data."
- Royal Bank of Scotland Group Plc. (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]So far support at 100.70, represented by the 2014 low and 50% retracement of the 2012-2015 up-move, is able to hold off the bearish pressure. [/ANNOUNCE]Demand in this region is also reinforced by a psychological level of 100 yen, below which we may expect interventions from the BOJ. Accordingly, the rate is well-positioned to return to the monthly PP at 103.20. Nevertheless, prolonged recovery is unlikely because of the bearish monthly indicators and a strong trend-line at 105, where resistance is strengthened by the 55-day SMA.
Traders' Sentiment
SWFX sentiment further decreases the chance of solid gains from 100.70, being that the US Dollar is overbought: two thirds of positions are long. At the same time, there is no visible difference between the buy (52%) and sell orders (48%).
Thu, 04 Aug 2016 09:06:07 GMT
Source: Dukascopy Bank SA
- Royal Bank of Scotland Group Plc. (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]So far support at 100.70, represented by the 2014 low and 50% retracement of the 2012-2015 up-move, is able to hold off the bearish pressure. [/ANNOUNCE]Demand in this region is also reinforced by a psychological level of 100 yen, below which we may expect interventions from the BOJ. Accordingly, the rate is well-positioned to return to the monthly PP at 103.20. Nevertheless, prolonged recovery is unlikely because of the bearish monthly indicators and a strong trend-line at 105, where resistance is strengthened by the 55-day SMA.
Traders' Sentiment
SWFX sentiment further decreases the chance of solid gains from 100.70, being that the US Dollar is overbought: two thirds of positions are long. At the same time, there is no visible difference between the buy (52%) and sell orders (48%).