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- Yannis Stournaras, the Greek finance minister (based on The New York Times)
Pair's Outlook
After posing for continuation of the last weeks rally pair dipped as it did nor manage to breach 107 JPY mark. Taking in to account recent developments, current market sentiment and readings of the stochastic indicator on 1D horizon it was rather evident that pair rocketed in to oversold area and we are likely to see a correction towards 106 and maybe to 105.5 fairly soon.
Traders' Sentiment
Nothing has changed in the market sentiment after the weekend—60% of all outstanding positions on the pair are short. Distribution of pending orders has shifted slightly to the long side—share of short pending orders decreased by 5% and is at 55% mark today.
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