© Dukascopy Bank SA
- Union Bank NA (based on Bloomberg)
Pair's Outlook
USD/JPY surges to the highest level since August 2009, as the price is traded just beneath a 100 benchmark. The pair is on an up-side track for a forth straight day, as the Bank of Japan announced significant measures of monetary policy to improve the domestic economic situation. Further perspectives of the pair are vague, since indicators deliver overbought signals, as the price is above the Bollinger band and the RSI has a value of 72.
Traders' Sentiment
Traders maintain bearish exposure towards the Japanese Yen, since the buy side on USD/JPY has 75% of the market. The SWFX market data indicates about attempts to exploit small corrections from long -term highs. Placed orders segment is skewed to a bullish side, as 71% of orders are ready to buy the U.S. Dollar versus the Yen.
© Dukascopy Bank SA