USD/JPY to find support at 97.81

USD/JPY has touched upon the rising support trend-line at 97.81, which is also a 2009 August high. A little lower there are 97.05/96.98 and 96.50/04 that will also try to safeguard the positive tendency of the pair. As soon as recovery recommences from one of these levels, the price will once again attempt to climb over a 100 mark, which has already withstood two attacks this month.

The fact that the Japanese Yen is one of the least popular currencies among majors (bought in 29% of cases), is also reflected in the ratio between the long and short positions on USD/JPY, which is 71% to 29% respectively. As for the orders placed on the pair, 72% of them are to acquire the buck against the Yen.