USD/JPY under the risk of erasing last week's gains

FX:USDJPY   U.S. Dollar/Japanese Yen
42 0 0
"Dollar/yen will continue to watch movements in risk assets like crude oil             and equities , for direction. During 'risk off' phases the yen continues to show the strongest reaction. The dollar approached the 115 yen threshold recently and this also makes it easier for participants to sell the currency."
- Barclays (based on CNBC)

Pair's Outlook
The USD/JPY             currency pair's sell-off was limited by the immediate support cluster yesterday, however, it is uncertain whether the cluster will succeed in doing so again today. Technical studies retain their bearish signals, while the risk-off sentiment returned to the markets after another Yuan devaluation by the PBoC. The Yen now has the upper hand against the Buck and could push the pair all the way down to the 112.00 level, which in turn is bolstered by the monthly S3. On the other hand, if bulls manage to take over, the US Dollar             could then successfully retake the 115.00 major level.

Traders' Sentiment
Today 67% of traders retain a positive outlook towards the USD, whereas the number of purchase orders plunged from 51 to 23%.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out