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- Finance Minister Taro Aso (based on MarketWtach)
Pair's Outlook
It seems that 92.8, the level pair closed at last week, is unbreachable for the time being. Technical indicators suggest that pair will trade sideways for sometime, but should resume its rally soon. Most likely for the time being it is depressed by Bollinger band and bulls are not ready to test 93.5 JPY either.
Traders' Sentiment
During the weekend preferences of traders changed mildly and put some clarity in to the situation. At the moment 58% of traders are long on the pair. It is likely bulls will continue to dominate in the market as overwhelming 80% of pending orders are to go long.
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