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- Sumitomo Mitsui Trust Bank (based on Reuters)
Pair's Outlook
Pair is appreciating rather rapidly after receiving a bullish impetus from Fibonacci retracement (61.8% of 5th to 17th of September move) at 101.161. Currently it is aiming to breach major level at 103 JPY. Advancement, at least long lived, of the pair above this level is highly unlikely and pair should be pushed back to 101.5 JPY area by already mentioned major resistance level.
Traders' Sentiment
SWFX traders' sentiment is in perfect equilibrium between bears and bulls suggesting that uncertainty about pairs future is creeping on to the market. Distribution of pending orders is slightly in favour for the bulls as 57% of pending orders on the pair are to go long.
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