- BBH (based on Reuters)
The US Dollar retreated from intraday gains on Monday, as an unexpected sell-off pushed the currency below the immediate support. Nevertheless, trade closed with the USD/JPY remaining relatively unchanged (losing only seven pips), but with technical indicators pointing to another possible decline today. The shifted significantly lower, suggesting the exchange rate could drop to around 120.50, while the monthly S1 keeps providing immediate support. Meanwhile, the strong cluster around 121.60 is likely to limit gains in case fundamental data boosts the Greenback.
Market sentiment remains , but at 72% (previously 74%). There are now 2% points more orders to buy the Buck, namely 60%.