© Dukascopy Bank SA
- a trader at a Japanese bank (based on CNBC)
Pair's Outlook
USD/JPY extended its bullish run by surpassing the weekly R1 at 99.87. Now the September high at 100.62 is supposed to be the next objective for the currency pair, being that daily and monthly technical indicators are mostly suggesting a positive outlook for the price. In the longer-time perspective USD/JPY should seek a meeting with the May high at 103.74.
Traders' Sentiment
Although USD/JPY has just soared by more than 100 pips, it does not seem that the bullish towards the currency pair traders are in a hurry to take profits, expecting the up-trend to persist, as evidenced by the portion of long positions that continuously remains above 70%, currently 73%.
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