USD/JPY rises above the weekly PP

After news from Cyprus investors reduced their risk exposure and purchased "safe haven" assets. Thus USD/JPY has increased 150 pips since Monday morning and continues to advance. The pair overcame the weekly PP at 95.22 very easily and the next resistance lies at 96.37, which is constructed by the monthly R2 and weekly R1. Nevertheless, the most important factor warning about the price's ability to add to gains is the RSI, which already has a value of 79 in a weekly timeframe.

Bulls have almost occupied the whole spot market, since the buy side possess 89% of all opened positions. Placed orders segment maintains similar figures as yesterday, 69% of long and 31% of short orders.