USD/JPY hovers near the weekly S1

USD/JPY pair appreciates a second session in a row, as the price leaned to the weekly S1 level at 97.06 and continued the upside movement. The pair is driven by bullish sentiments, which are unlikely to calm down until the pair reaches a 100 benchmark. The biggest resistances on the way to the aim are a 98.74 level, where the monthly R2 intersects with weekly PP, and the weekly R1, which is positioned at 99.56.

Sentiments in SWFX market remain heavily bullish, since 73% of opened positions bet on continuation of the movement north. Placed orders segment is bullish, as 67% of orders are waiting to buy the U.S. Dollar against the Japanese Yen.