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- ING Group (based on Bloomberg Businessweek)
Pair's Outlook
After bouncing from 102.20 pair is continuing its rally. On the way it breached weekly pivot and now set eyes on 104/104.11 area. Technical ideas support the idea that pair should advance further but it is highly unlikely it will stay above 104 JPY for a long time.
Traders' Sentiment
Amount of bears is in 60-65% boundaries for slightly more than a week now. Distribution of pending orders hasn't been changing much as well—amount of pending buy orders has been around 60% gauge for almost a week as well.
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