USD/JPY is under bearish pressure

Last week's upside trend was suspended at 99.87, very close to a previous high at 99.96, as the pair turned under bearish pressure. The price depreciates for the second straight day and has already reached the monthly R2 level at 98.74. Considering a further decrease, the pair should experience stronger bullish sentiments at 97.73, where the 20-day SMA intersects a historical support level.

SWFX marketplace investors maintain a bullish exposure to USD/JPY pair, despite the recent drop. Bulls still have the vast majority of opened positions - 74%. Placed orders segment is bullish even more, as 79% of orders are ready to buy the U.S. Dollar against the Japanese Yen.