Note: This section contains information in English only."USD/JPY continues to consolidate at the 100 week ma at 114.74, this together with a divergence of the daily RSI and a 13 count does point to a near term correction lower/consolidation."
- Commerzbank (based on FXStreet)
Pair's Outlook
[ANNOUNCE]The US Dollar surprised with its performance on Thursday, as it inched higher against the Japanese Yen unexpectedly.[/ANNOUNCE] As a result, the pair managed to climb over the 23.60% Fibo, which now suggests that more bullish momentum could follow. Even though technical indicators are also in favour of the positive outcome, the 114.50 psychological level should be considered as a potential resistance, as it prevented the Buck from edging higher on several occasions last week. Meanwhile, the nearest resistance rests only at 115.14, represented by the weekly R1.
Traders' Sentiment
There are now 60% of traders with a negative outlook towards the Greenback, compared to 62% yesterday. The portion of orders to purchase the Buck, however, remains unchanged at 52%.
Fri, 09 Dec 2016 09:25:04 GMT
Source: Dukascopy Bank SA
- Commerzbank (based on FXStreet)
Pair's Outlook
[ANNOUNCE]The US Dollar surprised with its performance on Thursday, as it inched higher against the Japanese Yen unexpectedly.[/ANNOUNCE] As a result, the pair managed to climb over the 23.60% Fibo, which now suggests that more bullish momentum could follow. Even though technical indicators are also in favour of the positive outcome, the 114.50 psychological level should be considered as a potential resistance, as it prevented the Buck from edging higher on several occasions last week. Meanwhile, the nearest resistance rests only at 115.14, represented by the weekly R1.
Traders' Sentiment
There are now 60% of traders with a negative outlook towards the Greenback, compared to 62% yesterday. The portion of orders to purchase the Buck, however, remains unchanged at 52%.