© Dukascopy Bank SA
- Societe Generale SA (based on Bloomberg)
Pair's Outlook
USD/JPY continues to perform positively, as the pair peaked at 99.87 yesterday, making the highest point since April, 2009. The pair is under bullish pressure, pushing the pair towards a 100 benchmark, which is a psychological level for traders. The next resistances are located at 100.77/90, where the monthly R3 merges with the weekly R1.
Traders' Sentiment
Distribution of long and short positions in the market is skewed to a bullish side, since 67% of opened positions are long, enjoying the recent appreciation. Placed orders market remains indifferent with the buy side's weight exceeding a 70% level and ready to exploit corrections.
© Dukascopy Bank SA