USD/JPY pair is close to a nine-month high

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The extent of the dollar-yen rally is quite striking. It's reasonable to think that there would be some impact on BOJ policy from a change of leadership. If Abe wins a comfortable mandate, he will certainly be keen to appoint somebody who is willing to take more aggressive steps"
- Westpac Banking Corp. (based on Bloomberg)

Pair's Outlook
USD/JPY pair skyrockets for a fourth trading session and is already in proximity of a nine-month high at 84.18. Reasons of such rapid appreciation are quite vague, signifying presence of speculative actions in this currency pair. On a related note, the RSI has a value of 74 and is already in an overbought zone.

Traders' Sentiment
SWFX market participants enjoy the surge of USD/JPY, as the majority of traders have opened long positions: 79% are long and only 21% are short. Pending orders situation also supports a bullish trend, as 89% of orders are for a buy position and 11% for a sell.

© Dukascopy Bank SA
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