Note: This section contains information in English only."Should the dollar make substantial gains from here, particularly against the yen, it will be interesting to see how president-elect Trump responds given his previous comment."
– BNY Mellon (based on Reuters)
Pair's Outlook
[ANNOUNCE]After a rather strong six-week rally the USD/JPY currency pair began to slide down, being in a bearish trend for two weeks now.[/ANNOUNCE] A strong decline of approximately 100 pips today would confirm a descending channel pattern by establishing its lower trend-line. The trend-line would pass right between the weekly S1 and the 20-day SMA, making that a strong demand area. However, technical indicators are in favour of the positive outcome, implying the Buck could still recover from its current intraday low of 116.23. Nevertheless, such scenario would still provide material for the descending channel pattern to be emerged.
Traders' Sentiment
Traders' sentiment is close to being neutral, as there are only 52% of all open positions being short and the remaining 48% being long. The majority of all pending orders, 53%, are to purchase the Greenback.
Thu, 29 Dec 2016 09:16:31 GMT
Source: Dukascopy Bank SA
– BNY Mellon (based on Reuters)
Pair's Outlook
[ANNOUNCE]After a rather strong six-week rally the USD/JPY currency pair began to slide down, being in a bearish trend for two weeks now.[/ANNOUNCE] A strong decline of approximately 100 pips today would confirm a descending channel pattern by establishing its lower trend-line. The trend-line would pass right between the weekly S1 and the 20-day SMA, making that a strong demand area. However, technical indicators are in favour of the positive outcome, implying the Buck could still recover from its current intraday low of 116.23. Nevertheless, such scenario would still provide material for the descending channel pattern to be emerged.
Traders' Sentiment
Traders' sentiment is close to being neutral, as there are only 52% of all open positions being short and the remaining 48% being long. The majority of all pending orders, 53%, are to purchase the Greenback.