- BK Asset Management (based on Business Recorder)
Fed Yellen's statement yesterday caused the USD/JPY currency pair to fall back under the 113.00 level, therefore, preserving the pattern. As was anticipated, the dips were limited by the weekly PP , but with the Buck now under pressure, this is expected to be pierced. Consequently, the Buck could sustain sharper losses and close under 112.00, as the closest support is located only around 111.60, represented by the weekly S1 and the . The outlook is that the given pair should keep falling towards the channel's lower border around 110.50. A failure to break through the weekly PP is likely to cause a short-term recovery towards 113.24.
There are 72% of traders being long the Greenback, opposed to 71% on Tuesday. Meanwhile, the share of sell orders increased from 50 to 55%.
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