© Dukascopy Bank
"The fear is that as long as the Fed keeps the possibility of more QE on the table, the dollar's rally against the yen will falter and the Bank of Japan will come under more pressure to start easing again"
- Dow Jones Newswires
Industry outlook
USD/JPY breaking through a resistance at 82.83 reinforces the view that the currency couple is aiming for 83.80 in the longer term. Supports are located at 82.23, 81.87 and 81.15, though a key level is at 80.94.
Traders' sentiment
There is little change in the sentiment of traders towards USD/JPY currency pair, as buy orders continue to form majority (79%).
Long position opened
Initial resistance area for the pair is situated at 83.35. Subsequent goals for the bullish market payers may be found at 83.78 and 84.47.
Short position opened
A part of the brokers will close their short positions near initial support level at 82.23. In case of downtrend continuation, the pair might rebound from the S2 at 81.54 or S3 at 81.11.
© Dukascopy Bank