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- St. George Bank Ltd (based on Bloomberg)
Pair's Outlook
USD/JPY has slowed the pace of appreciation, but still stays on the upside track and advances further. As the currency pair overcame 79.06/13 resistance level, it is very possible to see the price testing 79.56/74 in the near future. However, that might be done after some swings, because RSI has a value of 68.9 in a D1 graph and 70.2 in a H4 graph.
Traders' Sentiment
After a very positive week for USD/JPY pair, traders' sentiments have not changed at all, maintaining the same huge gap. The majority of traders, 74.2%, have a long position and only 25.8% have a short position. Pending orders market shows even more segmented data, as 87.6% are placed an order for a buy position and 12.4% for a short.
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