USD/JPY demonstrates recovered bullish sentiments

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The yen-weakness trend hasn't changed yet. Any near-term gains in the currency may merely be a "correction," with the Japanese government set to announce measures to boost the economy and ahead of the BOJ meeting."
- National Australia Bank Ltd. (based on Bloomberg)

Pair's Outlook
USD/JPY pair demonstrates a recuperation of bullish sentiments, as the price increases to the weekly PP level at 87.49. The pair is driven by fundamental expectations to see an expansion of monetary easing by the bank of Japan, therefore market is guided only by the RSI indicator, which sends signals about overbought points. Currently, the RSI has a value of 68 in a daily graph and 76 in a weekly graph.

Traders' Sentiment
SWFX market traders increase their preferences for the Japanese Yen, since 38% of positions are long and 62% are short. Pending orders situation remains bullish, but not as greatly as previously, since 80% of orders are buy and 20% are sell.

© Dukascopy Bank SA
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