© Dukascopy Bank SA
- Koichi Hamada, Economic Adviser to Japanese Prime Minister Shinzo Abe (based on Bloomberg)
Pair's Outlook
Yesterday the pair rebounded from the 20-day SMA at 101.44 and nearly reached the weekly R1 at 103.00. USD/JPY remains in the upper part of the Bollinger band and recent movements are considered to be a part of another bullish impulse's beginning. The closest resistance is the Bollinger band at 104.03
Traders' Sentiment
The gap between the bulls and bears has enlarged since last trading session—the buy side has increased by 3% to a 75% share. Waiting orders segment is heavily bullish with 71% or orders waiting to buy the buck against the Yen.
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