© Dukascopy
- Reuters
Pair's Outlook
Friday trading session showed some consolidation sighs and a pace of appreciation slowed down, but from the very beginning of a new week, USD/JPY continues to surge and have already reached 79.65 price level. Looking from a historical perspective, 79.56/74 zone has always maintained strong resistance levels, therefore there is very likely that USD/JPY will show a stronger correction impetus after reaching this level. Also, RSI has a value of 71, which tempts about an overbought zone.
Traders' Sentiment
Traders' sentiments keep the huge gap between buy and sell positions despite the price increase. 74% traders are still willing to see a further appreciation and have a long position and 26% have a short position. Placed orders segment is extremely segmented, as 87% orders are for a buy position and 13% for a short.
© Dukascopy