© Dukascopy Bank SA
- Mizuho Research Institute (based on Bloomberg)
Pair's Outlook
USD/JPY pair has performed a noticeable bullish movement in yesterday's session, as the price increased by 120 pips and was very close to the previous high at 88.39. If bullish sentiments drive this pair further, it is likely to see a retest of the monthly R1 level at 88.41 or even of a 89.12 level, where the weekly R1 intersects the Bollinger line. The RSI still keeps a very high value, 71 in a daily graph and 80 in a weekly graph, indicating an oversold area.
Traders' Sentiment
SWFX market investors remain bearish for USD/JPY pair, as 36% of positions are long and 64% are short. Pending orders segment gradually losses its extremely bullish sentiments, since 76% of orders are for a long position and 24% for a short.
© Dukascopy Bank SA