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- Brown Brothers Harriman (based on Reuters)
Pair's Outlook
After USD/JPY pair found a resistance at 82.47, the price moves south. As the pair is overbought to a significant extent, possibility of a deeper correction is increased. The first support level will be the weekly S1 at 81.86 and after that—81.46 area, where the monthly PP level crosses with the 20-day SMA.
Traders' Sentiment
SWFX market participants have slightly changed their sentiments, as the price shows the first signals of correction: the bull side has 67% of opened positions and the bear side has 33% of positions. Pending orders market still maintains a significant amount of bullish orders, 87%, and the bearish orders have only 13% of the market share.
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