- BNZ (based on WBP Online)
With demand for safe-haven assets higher on Monday, the USD/JPY currency pair fell to a one-year low, while stretched out even further. The risk-off sentiment also dominates today, therefore, the Greenback is likely to end the day in the red zone again versus the Yen, despite daily technical studies suggesting otherwise. The nearest support is represented by the and the weekly S1 at 119.93, but a drop towards the second target, namely the monthly S2 at 113.88, is not out of the question.
sentiment keeps ruling the market, as 73% of traders hold short positions. Meanwhile, 60% of all pending orders are to purchase the Buck, compared to 57% on Monday.