© Dukascopy Bank SA
"Developed markets will have the upper hand for the next three to six months. If the U.S. continues to grow, it's demand for Asian exports is likely to improve over time as well. In the short-term, developed markets like the U.S. and Japan are going to outperform."
- JPMorgan Asset Management (based on Bloomberg)
Pair's Outlook
Pair started the week above 101 JPY and is staying there. Yesterday's step back most likely was due to the traders capitalizing on their positions which were left open during the weekend. As technical indicators suggest pair is likely to receive bullish impetus and to appreciate further. If it gains pace we could see the pair testing 103.7 in this week.
Traders' Sentiment
Market sentiment is once again fully bullish. 71% of all open positions are already long on the pair and 54% of all pending orders are set to buy the greenback against the yen as well.
© Dukascopy Bank SA