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- Hans Kunnen, chief economist at St. George Bank Ltd. (based on Bloomberg)
Pair's Outlook
As USD/JPY pair ended a consolidation in a 0.9246/66 range, the price surges and has already reached the monthly PP and the 55-day SMA at 0.9349. The next resistance is the 100-day SMA at 0.9408 and after that the upper Bollinger band at 0.9461. However, currently the price is traded around the 20-day SMA, which indicates a middle of the Bollinger bands, and a price's settlement on one of the sides will be a strong signal to open a position.
Traders' Sentiment
Bears' dominance in USD/CHF pair reached a significant extent, as the buy side controls 89% of the market and the sell side only 11%. Pending segment is more balanced, as 64% of placed orders are buy and 36% are sell.
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