USD/JPY bounces up from the 200-day SMA at 79.45

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The BOJ wants a weaker yen. They need to do some more to keep their momentum going"
- Standart Chartered Plc (based on Bloomberg)

Pair's Outlook
Yesterday morning USD/JPY pair was reasonably below the 200-day SMA, but after the touch of the lower Bollinger line, the price retreated and closed exactly on the moving average at 79.46. Today, the price faces bullish sentiments and appreciates to 79.71, the weekly PP. The next support level will be the 20-day SMA at 79.86 and after that the currency has a free gap of resistance to move up, as the nearest will be only in 80.67/76 area.

Traders' Sentiment
SWFX market participants keep their bullish sentiments and patiently wait for the further pair's appreciation. Currently, the bullish side has 74% and the bearish side only 27%. Pending orders segment will provide even bigger support in the case of deprecation, since 83% placed orders are buy and 17% are sell.

© Dukascopy Bank SA
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