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- IG Market Securities Ltd. (based on Bloomberg)
Pair's Outlook
Today USD/JPY pair sharply increases and attempts to break out from the channel. As the currency pair is currently traded at 82.71, it is higher than the upper channel line at 82.56. Therefore, if the price settles above the latter level, it is very likely to see a further pair's appreciation. The next resistance level is at 82.85, the upper Bollinger band, and if this is overcome, then 83.02, the weekly R1.
Traders' Sentiment
Situation in USD/JPY pair remains very similar to yesterday's, as the buy side controls 66% of the market and the sell side manages 34%. Pending orders still possess huge upside expectations, as 86% of orders are buy and only 14% are sell.
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