© Dukascopy Bank SA
"The yen fell past 87 per dollar for the first time in 2 1/2 years after Japan's Prime Minister Shinzo Abe reiterated his intention to weaken the nation's currency"
- Bloomberg
Pair's Outlook
USD/JPY appreciates significantly quicker further, as the price passed the 87.00 benchmark today and attained a new peak at 87.32, the highest point since September, 2010. In a daily graph, the price moves along the Bollinger band, but has already made a few diversifications with technical indicators. However, a weekly graph surprises more, as the price is markedly above the upper Bollinger band and RSI's value is 78.2.
Traders' Sentiment
More and more traders expect to see a notable correction in USD/JPY fairly soon, therefore the bullish side diminished significantly till 22% and the bearish side reached 78%. Pending orders' segment maintains support for an appreciation, since 82% are buy orders and 18% are sell orders.
© Dukascopy Bank SA