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- Gaitame.com Research Institute (based on Bloomberg)
Pair's Outlook
USD/JPY's bullish outlook hangs by a thread, considering the pair remains unable to decouple from the major rising support line. In case the rate falls beneath 101.86, the bearish pressure will be expected to intensify, leading to an even deeper decline. Alternatively, if the greenback climbs over 102.32/06 and then overcomes 102.91/77, there will be few doubts regarding further appreciation of the buck.
Traders' Sentiment
There is virtually no change in the distribution between the long and short positions compared to the yesterday's figures. Consequently, the market participants remain net buyers of the Dollar—73% of them are bulls and 27% are bears.
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