© Dukascopy Bank SA
- Aozora Bank Ltd. (based on Bloomberg)
Pair's Outlook
USD/JPY pair is in the middle of a battle between bulls and bears, since the price has been trading flat past two weeks. The pair fluctuates between 103 and 102 levels around the weekly pivot point at 102.43. A bullish trend should succeed, as some bank analysts deliver bullish signals for the rest of a year. On the other hand, traders say that the pair is overbought now, as the major indicators deliver warning signals. Mostly due to that the pair is moving sideways in recent sessions.
Traders' Sentiment
SWFX marketplace investors shift towards bullish sentiments, as the buy side increased by another 7%, compared with the data last morning, to a 73% share. Waiting orders market is also bullish with 67% of buy orders.
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