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- CEO of Nissan Motor Co. (based on Bloomberg)
Industry outlook
USD/JPY seems to be glued to the key support area located at 76.29/25 refusing to leave its vicinity. Resistances are to be found at 77.04, 78.45 and 79.57, while supports are at 75.94 and 75.00.
Traders' sentiment
USD/JPY market is fixed with no alterations made to it during the preceding day. 72.84% of market participants preferred acquiring the American dollar, while only 27.16% of traders considered entering the market with shorts as a better idea.
Long position opened
Investors should pay attention to the identified with the help of the standard pivot point method resistance zones, as they might be useful on Friday. The initial resistance level is at the level of 76.82, whereas R2 and R3 are situated at 76.96 and 77.24 accordingly.
Short position opened
Bearish market players will pay attention to a near-term support at 76.54. The downtrend continuation will establish following targets for traders: S2 at 76.41 and S3 at 76.13.