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"Even if the Japanese stock market goes back up it will likely stay volatile and that will make the yen hard to sell, regardless of whether the market is bullish on the dollar."
- Brown Brothers Harriman (based on Reuters)
Pair's Outlook
For the pats few weeks pair has been showing clear, bearish, tendencies. There are some indications that pair might still fall to 98 JPY. In any case it is highly likely that pair has reached its lowest point for the time being and we should see bullish rally some time soon. Such turn of events is suggested by medium and long term technicals as well.
Traders' Sentiment
We are continuing to see a market dominated by the bulls. Share of outstanding positions controlled by them is remaining at 72% mark and every 2 out of 3 pending orders are to go buy the greenback against the yen.
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