- SWFX market sentiment is 61% short
- Pending orders in the 100-pip are set to sell in 54% of all cases
- Empty trading session
The rather weak junior ascending pattern of the USD/JPY remains in force. Namely, the rate continues to surge on Friday,
The Automatic Data Processing released the monthly US ADP Non-Farm Employment Change data that came out lower-than-expected of 177K, compare to forecasted 191K.
"Business' number one problem is finding qualified workers. At the current pace of job growth, if sustained, this problem is set to get much worse. These labor shortages will only intensify across all industries and company sizes.", said Mark Zandi, Moody's Analytics' chief economist.
Widgets webinar at 12:30 GMT
On Friday, Dukascopy Analytics are intending to host only one webinar. Namely, the introduction to Dukascopy widgets webinar, which is set to start at 12:30 GMT.
USD/JPY reaches even higher
The narrow ascending pattern of the USD/JPY currency pair, which was drawn on Thursday, has held its ground, as the surge of the currency exchange rate has extended into Friday. Namely, on Friday morning the rate had reached above the 112.75 level.The rate was expected to continue its surge in the future, as it faced no resistance as high as the 113.65 mark, where a historical high level was located at. In addition, the high level was supported by a pivot point at 113.75.
Meanwhile, note that the 55-hour SMA was approaching near the 112.00 mark to provide support.
Hourly Chart
On the daily chart it can be observed that yesterday the most dominant descending pattern was broken. Most likely the whole chart will be redrawn on Monday to see, where the large scale levels of significance are located at.
Daily chart
Swiss Foreign Exchange bearish sentiment has stopped the continuous growth. Namely, 61% of open positions were short on Friday, compared to 63% of open positions on Thursday.
Meanwhile, 51% of trader set up orders are set to buy the US Dollar against the Japanese Yen. Previously 55% were set to buy.
It means that the Swiss retail traders are no longer preparing to open more long positions. Instead, some have even taken profit by closing their long positions.
OANDA traders have become 59% bearish. The sentiment of the brokerage has been gradually going to the bearish side during this week.
Meanwhile, Saxo Bank traders are still almost neutral, as 51% of open positions were short on Friday just as they were on Thursday.
Spreads (avg, pip) / Trading volume / Volatility