© Dukascopy Bank SA
"Weak U.S. jobs data last week raised expectations the Fed will launch another asset purchase program. That would weigh on the dollar against higher-yielding currencies"
- CNBC
Pair's Outlook
USD/JPY has nearly violated support at 77.98/81, and the risk of an extension of the dip still persists, since in aggregate indicators give a "sell" signal on a weekly timeframe. Nonetheless, 77.63 in conjunction with 77.40 are expected to withstand bearish pressure and preserve neutral outlook, which is anticipated to slowly turn into a bullish one.
Traders' Sentiment
While the U.S. Dollar enjoys the highest popularity amidst its main peers, SWFX marketplace participants prefer to bet on appreciation of the greenback (72%) rather than its debasement (28%) relatively to the Japanese Yen, which, in turn, is one of the least frequently acquired currencies (in 28% of cases). Moreover, 64% share of buy orders supports upward outlook on the pair.
© Dukascopy Bank SA