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- Mizuho Research and Consulting
пЃ® Industry outlook
USD/JPY did not manage to gain foothold above a key resistance at 78.00/25. Therefore it is likely to carry on trading within a narrow range between a tough support at 77.00 and a strong resistance zone located at 78.00/25.
пЃ® Traders' sentiment
Sentiment towards USD/JPY currency pair is rather stable relative to the other pairs. 54.97% of market participants expect the price to rise, while 45.03% of them believe in an alternative scenario.
пЃ® Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 78.13. If the pair manages to go through this level, further resistances are situated at 78.31 and 78.60.
пЃ® Short position opened
Bearish market players will pay attention to a near-term support at 77.66. The downtrend continuation will establish following targets for traders: S2 at 77.37 and S3 at 77.19.
© Dukascopy Bank