Note: This section contains information in English only."I think it is just a matter of time that the dollar will test 115 yen after Mnuchin was silent about the dollar's strength."
- Mizuho Securities (based on Reuters)
Pair's Outlook
[ANNOUNCE]Amid strong US fundamental figures on Wednesday, the American Dollar gained more than 200 pips against the Japanese Yen, thus, climbed over the 23.60% Fibo level, which caused the pair to exit its ascending channel pattern.[/ANNOUNCE] The Buck now has a chance to not only retake the 115.00 level, but even the 116.00 mark, despite the weekly R2 and the Bollinger band forming relatively strong resistance there. However, the USD/JPY pair is first required to pierce the weekly R1 at 114.70, which appears to be causing setbacks in the Greenback's bullish trend. As a result, a small corrective decline is possible today, but with the 113.00 mark remaining intact.
Traders' Sentiment
There are 61% of traders with a negative outlook towards the US Dollar. Meanwhile, 60% of all pending orders are to sell the US Dollar.
Thu, 01 Dec 2016 09:20:06 GMT
Source: Dukascopy Bank SA
- Mizuho Securities (based on Reuters)
Pair's Outlook
[ANNOUNCE]Amid strong US fundamental figures on Wednesday, the American Dollar gained more than 200 pips against the Japanese Yen, thus, climbed over the 23.60% Fibo level, which caused the pair to exit its ascending channel pattern.[/ANNOUNCE] The Buck now has a chance to not only retake the 115.00 level, but even the 116.00 mark, despite the weekly R2 and the Bollinger band forming relatively strong resistance there. However, the USD/JPY pair is first required to pierce the weekly R1 at 114.70, which appears to be causing setbacks in the Greenback's bullish trend. As a result, a small corrective decline is possible today, but with the 113.00 mark remaining intact.
Traders' Sentiment
There are 61% of traders with a negative outlook towards the US Dollar. Meanwhile, 60% of all pending orders are to sell the US Dollar.