© Dukascopy Bank SA
- Markit (based on The New York Times)
Pair's Outlook
Pair remains in the vicinity of 141 JPY and we expect it to remain here in the nearest future. Short term peaks and dips remain possible, but only a major move could ignite a sell off or a rally. If the pair is to trail lower it should peak at least below 55-day SMA/weekly S1 to instigate the pair's bears to push it lower. In order to start thinking about new 2014 high pair's bulls should push it at least above weekly R1.
Traders' Sentiment
Bullish side of open positions slipped by additional 1%, till 46%, during the weekend. However, long side of pending orders increased by approximately 5% and is in 60-65% level depending on the range around current market rice.
© Dukascopy Bank SA