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"The market could see volatility depending on the outcomes of these events this month. But the Nikkei is gaining momentum on a weak yen and U.S. economic recovery hopes, and its upside is likely be around 14,500."
- Mizuho Securities (based on Reuters)
Pair's Outlook
Pairs closure above the 100 JPY lifted significant pressure from it and technical indicators give strong readings about the further appreciation of the pair. However, yesterday if failed at 101 JPY and at the moment is trading slightly above the 55-day SMA (below the 100 JPY). Pair might lose some more value, but bullish trend in the longer term should prevail. Sell off should stay above the 98.21.
Traders' Sentiment
Situation in the market is at the same level as yesterday. 70% of all open positions belong to the bulls. 57% of all pending orders were posted by the bulls as well.
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