- Minori Uchida, Bank of Tokyo-Mitsubishi UFJ (based on Reuters)
A set of poor fundamentals caused the American Dollar to retreat from its intraday high and close trade relatively unchanged against the Yen, adding only 20 pips on Thursday. The USD/JPY currency pair remains supported by the weekly PP at 113.00, which is now also bolstered by the 20-day . As a result, we expect the momentum to prevail, but gains are likely to be limited by a strong around 115.00, represented by the weekly R1, the monthly PP and the . On the other hand, daily technical indicators are now giving signs, suggesting that with sufficient impetus from weak NFP data the nearest support could be pierced.
Exactly three quarters of all open positions are long, while the share of purchase orders returned to its Wednesday's level of 57%.