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"We're seeing a broad-based U.S. dollar rally. We had the ISM manufacturing number which reinvigorated the dollar."
- BK Asset Management (based on MarketWatch)
Pair's Outlook
Pair is continuing to slowly appreciate and at the moment is aiming at the 100 JPY. A solid advancement above this level would significantly decrease the negative outlook (suggested by the Stochastic indicator on the short term) and increase the probability that the expectations of major market participants (103 JPY in the next quarter) will be met.
Traders' Sentiment
Amount of pending orders which are set to sell the greenback against the yen decreased by 10% and at the moment majority (52%) of pending orders are set go long. However, amount of long positions on the pair decreased only by 2% suggesting that this might have been short term traders capitalizing their gains.
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