USD/JPY is bullish

Source: Dukascopy Bank
© Dukascopy Bank
"The sobering reading adds pressure on the Bank of Japan to offer further monetary stimulus"
- Thomson Reuters

пЃ® Industry outlook

The American Dollar - Japanese Yen currency couple approaches resistance zone at 78.22/66, which is likely to withstand the initial attack. Dips are expected to be limited by supports that may be found at 77.29, 77.24/12 and at 76.22.

пЃ® Traders' sentiment
The majority of market participants expect USD/JPY currency pair to decline. Accordingly, 42.21% of all the positions held are bullish, while the largest part, being 57.79% of the market at the moment, is formed by bearish trades.

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 78.16, 78.27 and 78.39.

пЃ® Short position opened
Key support for intraday trading is situated at 77.93. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 77.81 and 77.70.
© Dukascopy Bank

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.