© Dukascopy Bank SA
- Barclays Plc (based on Bloomberg)
Pair's Outlook
USD/JPY pair's surge during the last few days was stopped by the 81.12 level and currently the price edges lower, checking the monthly R1 level at 80.89 and, as rarely happens, the upper Bollinger line from above. If the price does not surge further in a few upcoming days, the pair will experience a divergence between the price and the RSI, what is a strong indicator of a position reverse.
Traders' Sentiment
SWFX market participants hold bullish sentiments for USD/JPY pair, since 72% of traders manage buy positions and 28% sell positions. Pending orders situation changes to even more segmented, as buy orders have reached 87% benchmark and sell orders have only 13% of the market. This in turn indicates huge expectations to see further increase.
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