USD/JPY slips even lower

USD/JPY pair depreciates for a fourth consecutive day and this is a situation, which market has not seen for months.  The pair demonstrates the strongest bearish sentiments in the recent few months of a bullish rally and has already reached the 20-day SMA at 92.31. Currently the pair is at 92.48, where the previous dip was stopped, therefore it would be rational to wait for the further pair's movement around the 20-day SMA and see whether it will be able to breach it in the nearest future.

The gap between buy and sell side became even wider, as more and more traders open bullish positions and are waiting for continuation of the rally. Waiting orders situation is very similar, as orders are placed slightly lower than the spot price in order to open positions on dips and lower points.