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"We're back on a path of general dollar strength. The Fed still has some room to surprise bond and currency markets as the year goes by."
- National Australia Bank Ltd. (based on Bloomberg)
Pair's Outlook
The USD/JPY currency pair underwent a corrective decline on Thursday, but was unable to breach any significant technical level. Therefore, the outlook remains unchanged, as the Greenback is still located between a relatively strong resistance from above and the weekly R1 providing support from below. Price also appears to be anchored to the 100.00 mark, thus, a close around this area is expected. Furthermore, technical indicators are now giving mixed signals in all timeframes, bolstering the possibility of the Buck remaining unchanged against the Yen for another day.
Traders' Sentiment
Market sentiment remains unchanged, with bulls taking up 73% of the market. Meanwhile, the share of orders to sell the US Dollar increased, namely from 68 to 70%.
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