© Dukascopy Bank
"The greenback often trades in volatile way against the yen during the last three business days of the year"
- CNBC
пЃ® Industry outlook
The short term support is at 77.50, ahead of 77.12, while resistances may be found at 78.20/50 and 79.52. In case USD/JPY reaches a record low at 75.56 it is likely to rebound from this level and recover.
пЃ® Traders' sentiment
Traders' sentiment is bullish for the American Dollar - Japanese Yen currency pair, being that the amount of long positions held in the market exceeds the quantity of shorts, being 59.12% and 40.88%, respectively.
пЃ® Long position opened
While trading this pair, investors should pay attention to the immediate resistance level at 78.17. If the pair manages to go through this level, further resistances are situated at 78.30 and 78.39.
пЃ® Short position opened
Bearish market players will pay attention to a near-term support at 77.95. The downtrend continuation will establish following targets for traders: S2 at 77.86 and S3 at 77.73.
© Dukascopy Bank