© Dukascopy Bank SA
- The Bank of Japan (based on Bloomberg)
Pair's Outlook
After bouncing to the 80.50 level, USD/JPY swung down and tonight it touched the 20-day SMA at 79.78 level. However, currency pair retreated back and now is traded above 80.00, which still stays as an important psychological level for the majority of traders. In case the pair continues a movement to south, the price has to settle below the 80.00 level, after which 79.63 and 79.52 levels go as important ones.
Traders' Sentiment
SWFX market participants stay strongly bullish on USD/JPY pair, as 70% hold a long position and 30% a short one. Segmentation in pending orders market is even more drastic, as 85% traders are looking for a buy position and 15% sell opportunity.
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