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- Bayview Asset Management (based on Reuters)
Pair's Outlook
Pair breached 103 JPY level rather confidently , but at the moment is depressed by Bollinger band. Taking in to account market sentiment and readings of technical indicators, it is very hard to believe that pair would be able to step up above 103.857. Even if it would, this should happen very gradually.
Traders' Sentiment
Bears regained some ground after having an equal share of market with the bulls yesterday and as 52% of traders hold short positions on the pair today. Distribution of pending orders suggest that bears wont manage to gain a bigger market share since 54% of all pending orders on the pair are to go long.
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