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Pair's Outlook
USD/JPY pair remains locked in a channel, bounded by the upper line at 82.55 and the lower line at 81.87. As the price fluctuates in the same range for two weeks, all technical indicators returned into a neutral zone, therefore a further appreciation of this currency pair is very likely. The next resistance should be met at 83.01, where the weekly R1 intersects with the upper Bollinger line.
Traders' Sentiment
Expectations to see a depreciation of the Dollar decrease, as 64% of traders have long positions and 36% have short positions. In the pending orders market buy positions still control the majority (86%) and the sell positions have only 14% of the market.
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