USD/JPY slowed his quick recovery



The currency pair EUR/USD traded rather quietly and with a slight increase, as closed markets in the US and UK on the occasion of the holidays do not give reason for concern. Now the main trading tool go around 1,1155, where the weekly pivot point, which is the currency pair already managed to test. Currently the pair is trading in the negative dynamics, where the bottom is supported by a strong level of support at the level of 1.1126, where the monthly S2. In case if the pair breaks this level it will target the weekly S1 at 1.1067.

The mood of the traders

The share of long positions on the SWFX market fell by two percent to 51%.



The pair slowed their rapid recovery. The main reason which is putting pressure on the yen, the rumors that Shinzo Abe (Prime Minister of Japan) will probably delay raising the sales tax by 2.5 years. Moreover, the volatility of the market from America on the contrary has been advanced, despite the holiday in the United States. Further development of the situation involves correction, which will develop in a downward direction. The nearest purpose of decrease in pair will be support on the level of 110.60, the next – mark 109.80.

The mood of the traders

Today, the number of bullish opened positions on the SWFX market has decreased and was equal to 72%.

USD/JPY slowed his quick recovery 31.05.2016

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