USD/JPY aims to climb over 119

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"I think the range-bound trading will be continuing for the dollar/yen, with the upside at 120 and the downside at 118."
- Kaneo Ogino, Global-info Co (based on CNBC)

Pair's Outlook
On Friday, the US Dollar slumped more than anticipated. The two closest supports could not stop the USD/JPY pair from declining. As a result, the Greenback crossed the 119 level and closed trade at 118.96. A slight correction is expected to take place on Monday. The nearest resistance now lies around 119.20, represented by the weekly PP and the 100-day SMA, although the pair is unlikely to climb up so high. The target correction level is 119.10, while technical studies still give off mixed signals.

Traders' Sentiment

Market sentiment maintains its bullish trend at 72% (previously 74%), whereas the number of purchase orders is now in the majority. The buy commands now take up 53% of the market.

© 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.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
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.