USD/JPY to stay afloat

The U.S. Dollar is softening, but this process could be halted by 92.89/66, from where the currency pair can re-start the recovery. Nevertheless, we may not yet rule out a deeper retracement, while a decline beneath 92.19/09 is considered to be a low probability event. Some of the most important resistances that lie overhead are 94.47/30 and 95.00/94.94, as between them is the likely point of contact of the spot price with the up-trend resistance line.

An even greater amount of traders than yesterday is now long on USD/JPY (74%), as conviction that the currency pair is yet to reach its top continues to grow. However, the ratio of the buy orders (70%) to the sell ones (30%) is more or less stable despite the fluctuation of the price.