USD/JPY breaches the weekly PP at 82.30 again

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We took action in September and October because what we thought were risks back in the summer materialized. We must debate and consider whether that was enough, taking into account various data which came out since then" - Kiyohiko Nishimura, The Bank of Japan (based on Reuters)

Pair's Outlook
Last few days losses in USD/JPY pair are almost erased, as the pair surged tonight from the lower Bollinger band and is currently retesting the weekly PP at 82.30. The price has not broken neither the last high nor the last low, so it is possible to see a symmetrical triangle and trade from its boundaries.

Traders' Sentiment
SWFX market players expect to see weaker Yen, as 69% of traders have long positions of USD/JPY pair and 31% have short positions. Placed orders market slowly returns towards a balance, as buy orders share shrunk till 86% and sell share reached 14%.

© Dukascopy Bank SA
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