© Dukascopy Bank
"It's very hard to imagine that the BOJ will take no new easing measures at the coming meeting"
- Daiwa Securities (based on WSJ)
Industry outlook
Despite USD/JPY being currently in the vicinity of a tough resistance at 81.72/83, bullish bias should persist until the level gives in and paves the way for the pair to attain 83.31/39, which guards 84.19.
Traders' sentiment
Traders' sentiment is little changed towards USD/JPY, therefore the majority of market participants (71%) continue on holding long positions.
Long position opened
Investors should pay close attention to the identified resistance levels for the pair at 81.72, 81.90 and 82.03.
Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 81.41. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 81.28 and 81.10.
© Dukascopy Bank