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- Brown Brothers Harriman (based on BBC News)
Pair's Outlook
Pair started appreciating from the very start of the session and it seems it has gained momentum after receiving bullish impetus from 111.22 at Christmas eve. We are likely to see similar development in the future as well. Pair might be somewhat straddled by Bollinger band all the way to 115 JPY area where at least minor bearish correction should take place.
Traders' Sentiment
Markets once again switched to being more bearish—share of bears in the market increased by 6% and at the moment they constitute for 58% of market participants. However, pending orders are still in favor for the bulls—66% of all pending orders are to go long.
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