Note: This section contains information in English only."We saw dollar weakness in conjunction with those falling yields [US Treasury yields], and it led to a strengthening of the yen."
– Bill Northey, chief investment officer of the private client group at U.S. Bank (based on Reuters)
Pair's Outlook
[ANNOUNCE]The US Dollar's relatively sharp decline against the Japanese Yen yesterday caused the bearish trend to be reconfirmed.[/ANNOUNCE] The pair lost 159 pips during Monday, edging closer to its eight-week low; with this psychological support the Greenback has the potential to erase some of yesterday's losses. The supply cluster around 114.00 is likely to limit any substantial gains, as the four-week down-trend rests there, also being reinforced by the monthly S1, the weekly PP and the 55-day SMA. Meanwhile, technical indicators keep giving bearish signals, suggesting the Buck could fall deeper down if Yen's safe-haven status triggers demand.
Traders' Sentiment
There are now 53% of traders with a positive outlook towards the Buck (previously 48%), while 60% of all pending orders are to buy the USD.
Tue, 24 Jan 2017 09:41:04 GMT
Source: Dukascopy Bank SA
– Bill Northey, chief investment officer of the private client group at U.S. Bank (based on Reuters)
Pair's Outlook
[ANNOUNCE]The US Dollar's relatively sharp decline against the Japanese Yen yesterday caused the bearish trend to be reconfirmed.[/ANNOUNCE] The pair lost 159 pips during Monday, edging closer to its eight-week low; with this psychological support the Greenback has the potential to erase some of yesterday's losses. The supply cluster around 114.00 is likely to limit any substantial gains, as the four-week down-trend rests there, also being reinforced by the monthly S1, the weekly PP and the 55-day SMA. Meanwhile, technical indicators keep giving bearish signals, suggesting the Buck could fall deeper down if Yen's safe-haven status triggers demand.
Traders' Sentiment
There are now 53% of traders with a positive outlook towards the Buck (previously 48%), while 60% of all pending orders are to buy the USD.