USD/JPY stands its ground

Right now the U.S. Dollar is on the defensive across the board, losing ground against most of its rivals. In USD/JPY, however, the currency remains well-supported. Even though yesterday the price fell down beneath the weekly pivot point at first, at the moment the pair is trading above this level, showing willingness to continue a recovery started in late October.

While yesterday the number of bullish towards the U.S. Dollar traders declined to 69% of the market, now they constitute as much as three fourths of it. Meanwhile, the gap between the buy (69%) and sell (31%) orders has also notably widened since the last report.