USD/JPY tests 100.10/99.98

The bullish run of USD/JPY started this week has notably decelerated ahead of the resistance formed by the April high, weekly R3 and monthly R1, meaning the price is likely to step back for a brief moment before reattempting to overcome this tough area. The next level the currency pair will then aim for is supposed to be 101.53, the highest trading point in July.

The share of the bulls increased by another five percentage points and is now 64%, as more and more traders are becoming encouraged by the bullish behaviour of USD/JPY. As for the orders placed on the pair, 63% of them are to acquire the Dollar and 37% are to sell it against the Japanese Yen.