© Dukascopy Bank
"Attention will need to be paid to risks of sharp falls in U.S. long-term bond yields and the USD/JPY, especially if the unemployment rate climbs contrary to expectations"
- Barclays Capital (based on WSJ)Industry outlook
Support line at 76.00 has managed to withstand bearish pressure up until now. Nonetheless, a possibility of a dip down to 75.30 or 75.00 cannot be ruled out. Resistances are at 76.55 and 77.20.
Traders' sentiment
Presently the number of short trades only by a small amount exceeds the number of long ones. Their shares are accordingly 54% and 46%.
Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 76.29, 76.37 and 76.49.
Short position opened
A part of the brokers will close their short positions near initial support level at 76.09. In case of downtrend continuation, the pair might rebound from the S2 at 75.97 or S3 at 75.89.
© Dukascopy Bank