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"Abe is escaping narrow-minded ways of thinking -- he has his own ideas and approach."
- Former Yale University economist (based on Bloomberg)
Pair's Outlook
After a brief dip below the weekly S1 and monthly PP at 116.92/75 yesterday, USD/JPY rebounded above the support levels. The pair is likely to sustain its positions above the previously mentioned support levels and to climb higher. The technical indicators have not changed since yesterday, as the weekly and monthly ones remain neutral, while the daily ones are negative.
Traders' Sentiment
The sentiment of the SWFX market participants have not changed since the last time of writing and it remains neutral with respect to USD/JPY - 52% of the market participants are long. At the same time the gap between the buy (53%) and sell (47%) orders is narrowing.
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