© Dukascopy Bank SA
- Morgan Stanley (based on Reuters)
Pair's Outlook
Pair remains biasless after taking a step back ahead of 144 JPY a few days ago. We do not anticipate any major changes in the nearest future, but short term dips and peaks remain possible. In case the pair shows a sold close above 144 JPY and peaks above monthly R2 we should anticipated a test of weekly R1 shortly after that. However, due to the proximity of 145 JPY we di not expect it to give up easily.
Traders' Sentiment
Bears are continuing to slowly erode the strength of the bears. At the moment they hold 54% of all of the open positions, 1% more than yesterday. Besides that, bearish side of pending orders expanded by 16%, till 54%, in 50 pip range.
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