Note: This section contains information in English only."You've had a pretty good run in the dollar in the last few weeks so I think this is more profit-taking than a real economic story. But generally speaking it's very hard for the dollar to maintain a bull run at the moment, because a stronger dollar acts as a tightening force on the US economy."
- Dominic Bunning, HSBC (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]Relatively weak US inflation data yesterday caused the USD/JPY pair to negate all intraday gains and close trade with only a two-pip loss.[/ANNOUNCE] The Greenback appears to be gravitating towards the 114.00 major level, thus, a positive outcome today would not be a surprise. Moreover, technical indicators keep suggesting that a bullish development is the most probable outcome. In case bulls do prevail, gains are unlikely to exceed the 114.20, where a tough psychological resistance is located. On the other hand, there is a decent chance of a sell-off taking place, with the exchange rate seen falling as low as 103.40.
Traders' Sentiment
Bears keep losing numbers, as 61% of all open positions are long today (previously 62%). The portion of buy orders barely changed as well, having risen from 53 to 54% over the last 24 hours.
Wed, 19 Oct 2016 06:24:11 GMT
Source: Dukascopy Bank SA
- Dominic Bunning, HSBC (based on Business Recorder)
Pair's Outlook
[ANNOUNCE]Relatively weak US inflation data yesterday caused the USD/JPY pair to negate all intraday gains and close trade with only a two-pip loss.[/ANNOUNCE] The Greenback appears to be gravitating towards the 114.00 major level, thus, a positive outcome today would not be a surprise. Moreover, technical indicators keep suggesting that a bullish development is the most probable outcome. In case bulls do prevail, gains are unlikely to exceed the 114.20, where a tough psychological resistance is located. On the other hand, there is a decent chance of a sell-off taking place, with the exchange rate seen falling as low as 103.40.
Traders' Sentiment
Bears keep losing numbers, as 61% of all open positions are long today (previously 62%). The portion of buy orders barely changed as well, having risen from 53 to 54% over the last 24 hours.