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"The U.S. is recovering, but the rate of growth isn't matching expectations. The Fed know what's happening on the ground so I think they will act within reason. The Japanese government is very serious at getting their economy back to a reasonable rate of growth. Japan will continue to surprise on the upside over the next few years."
- Wilson HTM Investment Group (based on Bloomberg)
Pair's Outlook
It seems that the pair is gaining pace as at the moment it is testing 99 JPY level. Technical indicators suggest that pair is likely to maintain such direction and soon we should see it testing 100 JPY. Such scenario is almost perfectly aligned with the expectation of the major market participants as well.
Traders' Sentiment
Although market participants continue to hold extremely bullish stance on the pair, 74% of all open positions are long, it is worth mentioning that 54% of all pending orders are now set to sell the greenback against the yen. Distribution of the pending orders switched sides for the first time in weeks time.
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