USD/JPY consolidates at 101.62
Pair’s Outlook
While the 200-day SMA is still not letting USD/JPY to step any lower, it is also failing to rekindle interest of the market in the pair. Still, there is a chance that eventually the bulls are going to overpower the bears, since neither the long-term moving average nor the 50% Fibo at 101.19 have yet been breached. Additionally, the majority of the monthly technical indicators and sending ‘buy’ signals, but first we need the resistance at 102.55/37 to be broken.
Traders’ Sentiment
Relatively less than yesterday, but most (71%) of the SWFX market participants believe that the price of the U.S. Dollar is going to increase. As for the orders, 67% of them are placed to acquire the greenback against the Yen.
Source: DukascopyBankSA
