© Dukascopy Bank
"Nothing came out of the Fed meeting and that's negative for the markets"
- Tokio Marine & Nichido Fire Insurance Co. (based on Bloomberg)
пЃ® Industry outlook
USD/JPY is bullish at the moment while approaching 78.28/30 which is not expected to halt upward movement of the pair. Further goals are situated at 78.66 and 80.12. The initial support is at 77.29, additional levels are at 77.11 and 76.22.
пЃ® Traders' sentiment
The gap between the amount of bullish and bearish trades has narrowed in USD/JPY market, as 54.99% of market participants expect the pair to advance, while 45.01% of them await for the Greenback to depreciate.
пЃ® Long position opened
The price might rebound from the first resistance level at 78.13, so major dealers are planning to close some of their long positions near this level. Subsequent goals for bulls are 78.26 and 78.51.
пЃ® Short position opened
Largest investors might have placed their take profit orders at the key support levels. These levels for intraday trading are situated at 77.75, 77.50 and 77.37.
© Dukascopy Bank