An assumption about further movement of the pair was partially confirmed yesterday. On the one hand, bulls made not less than five attempts to break to the top and restore lost positions. On the other hand, a combination of the 55-, 100- and 200-hour SMAs as well as the weekly PP at 112.81 blocked each one of them. As long as investors continue to fear further escalation of the North Korean crisis, the Yen is likely to continue to gain value against the Dollar. In support of this assumption, the average market sentiment continues to be 61% bearish. From technical perspective, there is a need to take into account that while the northern side is full of many technical indicators, the southern side contains only the weekly S1 that is located at the 112.19 level.
