© Dukascopy Bank
"For global growth, it's not the most uplifting view, but in Japan, the trajectory is clearly seen to be above potential, because potential is so low"
- Jefferies (based on Reuters)
пЃ® Industry outlook
The American Dollar - Japanese Yen currency pair has bounced off 77.12/14 yet again, confirming its topicality. The outlook remains bullish, with the possibility for USD/JPY coming as high as 78.80, or even 80.23.
пЃ® Traders' sentiment
USD/JPY currency couple is presently neutral, according to the liquidity consumer sentiment. 49.7% of market participants keep bullish trades, whereas the rest, being 50.3%, stay short on the pair.
пЃ® Long position opened
Leading market participants, who have entered USD/JPY market with a buy trade, are expecting to close their positions at the key resistances at 77.90, 78.18 and 78.56.
пЃ® Short position opened
Bearish market players will pay attention to a near-term support at 77.24. The downtrend continuation will establish following targets for traders: S2 at 76.86 and S3 at 76.58.
© Dukascopy Bank