USD/JPY slips from Bollinger band

After a breach of a 100 level, the pair gained just above 102, but that was above the daily Bollinger band, thus the pair depreciates today. It is very possible to see a small correction this week till the closest support at 100.89, the weekly pivot point, but it is more rational to open buy positions on dips, as the ongoing trend is bullish. Also, analysts say that USD/JPY pair should advance to 103-104 or even higher till the end of a year.

Bulls have cut their positions dramatically, as their share decreased from 72% to 57% over the weekend. Pending orders market also experienced diminution of bullish sentiments, since the buy side now has 67% of orders.