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"The dollar is out of favor on QE risk from the Fed, so that leaves the yen as the only proper safe-haven alternative"
- Rabobank International (based on Bloomberg)
Pair's Outlook
The pair remains choppy and does not exhibit adherence to any specific direction at the moment. Moreover, indicators also do not provide an insight into the future and increase uncertainty with regard to the prospects of USD/JPY. However, being that the price is dangerously close to a recent low of 77.66, long-term outlook is bullish.
Traders' Sentiment
Stance of market participants is unchanged on USD/JPY, as 74% of traders continue to stay long on the pair and only 26% of them expect the Japanese Yen to appreciate relatively to the U.S. Dollar. Additionally, 64% of orders placed on the currency couple are to buy the greenback, while 36% of them are to sell it against the Asian currency.
© Dukascopy Bank SA