USD/JPY challenges 102.34/03

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The government in Japan is trying to build the case for another wave of stimulus."
- Bank of New York Mellon (based on Bloomberg)


Pair's Outlook

Although initially USD/JPY appeared hesitant in the face of the down-trend resistance line, it has nevertheless launched an attack on 102.34/03. If this attempt succeeds, we will be looking at 102.94/72 (monthly PP and 100-day SMA) as the next target. And while the near-term technical indicators are not in favour of such a course of events, most of the monthly signals suggest to acquire the U.S. Dollar against the Yen.

Traders' Sentiment

The sentiment towards USD/JPY remains explicitly bullish, being that right now as many as 72% of open positions are long. In the meantime, the buy orders are losing their positions—50 pips from the spot their portion plunged from 59% down to 39%.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.