- FPG Securities (based on Reuters)
A group of SMAs helped the US Dollar extend its gains and retake the 122.00 major level, with limited by the monthly PP and 20-day circa 122.40. This group of levels keeps providing immediate resistance today, a breach of which is likely to lead to a surge up to 122.78, namely the weekly R1. Alternatively, the USD/JPY currency pair risks erasing yesterday's gains if the fundamentals cause the pair the retreat towards the strong cluster of supports around 121.65. Technical studies, however, retain mixed signals, suggesting the immediate resistance might remain intact.
Market sentiment remains at 51%, whereas the share of orders to sell the Greenback edged up 4% points up to 60%.