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"What is rather bullish is the fact that for the fifth week in a row we have Japanese investor buyers of foreign bonds, which is rather supportive for U.S. Treasuries and even for European core bonds."
- Natixis (based on Reuters)
Pair's Outlook
Pair receiver a minor bullish impetus which sent the pair back above the 96 JPY. This changed the outlook given by the short term technicals from negative to neutral on aggregate. It seems that support coming from the 200-day SMA should keep the pair stable at least for some time. Short term Stochastic even gives an indication about a possible rally, however, it seems rather implausible at the moment.
Traders' Sentiment
Bulls took back the part of the market which they lost yesterday—they once again hold 74% of all open positions in the market. Pending orders, however, remain at the same level—68% in favour for the bulls.
© Dukascopy Bank SA