© Dukascopy Bank SA
- Dutch Finance Minister (based on The Globe and Mail)
Pair's Outlook
Pair is demonstrating bullish intentions and has peaked to a new, 2013, high yesterday. It took a step back today, but we expect bullish trends to persist in the medium to long term. In the short term it might trail lower, but should not fall below the 140.92/72 area. In case it, unexpectedly does so, it might be sold off till 139 JPY, but that seems rather unlikely at the moment as we expect the pair to trade sideways in the short term.
Traders' Sentiment
We are seeing no change in market sentiment since bullish side of pending orders decreased by 6% yesterday. It remains at 73% today as well. In addition to this, bulls continue to hold 40% of all open positions.
© Dukascopy Bank SA