USD/JPY went under 98.47/25

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"While we maintain a positive medium-term outlook for the dollar, signs of more definitive upside momentum for the greenback will have to wait."
- Rabobank (based on Reuters)

Pair's Outlook

Considering that USD/JPY is currently facing a number of tough supports after falling through the 55 and 100-day SMAs and this week the pair opened with a sizeable downside gap, there is a good chance the U.S. Dollar will soon start outperforming the Japanese Yen. In order for the bullish scenario to come true, however, the 200-day SMA at 97.85 and the up-trend support line at 97.21 should stay intact.

Traders' Sentiment
Judging by the SWFX traders' sentiment, USD/JPY should behave bullishly in the nearest future, being that an overwhelming majority of open positions are long (72%). As for the pending orders placed on the pair, 80% of them are to sell the greenback against the Asian currency.
© Dukascopy Bank SA
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