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"A reduction in quantitative easing should be positive for the dollar but investors can't assume that the dollar will automatically rally post-FOMC (Federal Open Market Committee)."
- BK Asset Management (based on Reuters)
Pair's Outlook
Pair continues to demonstrate bullish attitude, but gains of 30 and less pips this week suggest that there is no strong catalyst behind the pairs movements. 55 and 100-day SMAs seems to be only supporting the pair, but not pushing it higher. No change in the market sentiments suggest we could continue to see similar situation in the market, unless some sort of informational shock will take place in the market.
Traders' Sentiment
Not even a minor thing changed in the market sentiment on the greenback-yen cross since yesterday. Bulls account for 60% of market participants and 56% of pending orders are set in their favour as well.
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