© Dukascopy Bank
"Japan's fiscal situation is worsening"
- Nomura Securities Co. (based on Bloomberg)
пЃ® Industry outlook
The price remains below a downtrend at 78.04, implying that the bearish impetus might strengthen, even though USD/JPY is currently underpinned by 77.96. Should the initial support be broken, 77.83 will be reached next.
пЃ® Traders' sentiment
The share of long trades in USD/JPY market has increased, although it still was not able to overcome a threshold of 50% to overthrow bearish sentiment. The ratio between longs and shorts is 45.54% to 54.46%, respectively.
пЃ® Long position opened
Largest brokers set a new long position target as a break of 78.24 is an encouraging bullish sign en route to 78.32. If the uptrend remains, the third target for intraday trading will be 78.44.
пЃ® Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 78.04, 77.92 and 77.84.
© Dukascopy Bank