Dukascopy - Analytics


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    USD/JPY falls deeper

    © Dukascopy Bank SA
    "The U.S. data over the rest of this week will become increasingly important, further misses will likely drive more sustained losses for the USD."
    - ANZ (based on CNBC) 

    Pair's Outlook
    On Tuesday, the USD/JPY pair failed to rebound and dropped amid the worse-than-expected fundamentals. The Greenback reached out to the weekly S1 at 119.10, but eventually closed at 119.44. The Buck is likely to extend its slide, while the technical indicators are still giving mixed signals. The target is 119 yen, although the US Dollar might also reach the lower Bollinger band around 118.77.

    Traders' Sentiment
    Market sentiment improved further, and the long positions returned to their Monday's level of 74%. The number of buy orders, on the other hand, retreated, as 41% of commands are to acquire the Greenback and the remaining 59% are to sell.

    © Dukascopy Bank SA

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