USD/JPY decelerates ahead of 102.74/51

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"I think yen selling will continue until the U.S. payroll data next week to say the least. And if there's no surprise there, then it could have another leg to go."
- a trader at a European bank (based on CNBC)

Pair's Outlook

Although the very first attempt of USD/JPY to pierce through the resistance at 102.74/51 did not turn out to be successful yesterday, eventually the currency pair should violate this level and resume moving en route to the May high at 103.74, also the current location of the weekly R3. Afterwards the Dollar may target the Jan 2008 low that lies at 104.92.

Traders' Sentiment

The gap between the bullish and bearish bets on USD/JPY continues to narrow. While yesterday the distribution was 66% to 34% respectively, today it is already 64% to 36%. Meanwhile, the difference between the buy (77%) and sell (23%) orders seems to be a little more stable.
© Dukascopy Bank SA
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Actual Topics

Fri, 29 Nov 2013 07:30:15 GMT

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