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- BK Asset Management (based on MarketWatch)
Pair's Outlook
USD/JPY stopped near the support at 101.22/00 and then shot through the resistance created by the 100-day SMA and several other studies. As a result, the currency pair pared all of the last week's losses and appears to be ready to keep on advancing. The next important obstacle in this case will be the monthly pivot point and the 55-day SMA slightly above 103.
Traders' Sentiment
Despite volatile behaviour of USD/JPY, positioning of the SWFX market participants stays stable—71% of open positions are long and the remaining 29% are short. As for the orders, there are now significantly less buy ones (55%) compared to the yesterday's records (66%).
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