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- Credit Agricole (based on Bloomberg)
Pair's Outlook
USD/JPY's thrust forward yesterday was negated later on, and the currency pair returned back beneath the 55-day SMA as a result. Nevertheless, the support at 102.07/00, mainly consisting of the weekly PP and 38.2% Fibo, keeps the price afloat for the time being and thereby preserves a chance for a rally to eventually emerge, despite the daily studies suggesting to sell the U.S. Dollar.
Traders' Sentiment
SWFX sentiment towards USD/JPY stays perfectly unchanged, as an overwhelming majority (71%) of the market continues to hold long positions, expecting the Dollar to strengthen. Speaking of the orders, there was an increase in the percentage of buy ones, from 52% to 63% within the last 24 hours.
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