USD/JPY touched 100-day SMA

The U.S. Dollar carries on ceding ground, even though the currency is already facing a supposedly formidable demand area at 102.23/05, and most of the technical studies are bullish. If this does not turn out to be enough to nullify the present selling pressure, the greenback will have another chance to restart a recovery from 101.86, where the monthly pivot point merges with the major 16-month rising trend-line.

The sentiment with respect to USD/JPY stays exemplary in terms of stability—the market is distinctly bullish towards the pair, as 73% of traders believe in outperformance of the U.S. Dollar relative to the Japanese Yen.