© Dukascopy Bank SA
"There are fiscal and monetary policy risks. There are some issues that need to be solved like exports are not growing, companies are not spending. These need to be solved, but I think it takes time."
- Japan Macro Advisers (based on CNBC)
Pair's Outlook
The USD/JPY cross has not changed much since yesterday, as it continues to challenge the weekly PP at 119.38. Most likely the pair will have the strength to test the major level at 120; however if not, then there is a risk of the pair falling towards the weekly S1 and monthly PP at 116.91/75 once again. At the mean time, the weekly technicals point upwards.
Traders' Sentiment
The sentiment of the SWFX market participants has not changed and it remains neutral with respect to USD/JPY - 52% of the market participants are long. Concerning the orders placed 100 pips from the spot, there are now significantly less commands to sell— 52%.
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