USD/JPY gradually slips to close a gap Dukascopy

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"There is a cautious view that the yen has been dropping too rapidly. But I think yen-selling is only half done. Expectations are increasing for the BOJ to ease significantly"
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)

Pair's Outlook
As USD/JPY pair started a trading week with a huge gap, the price gradually depreciates towards the lower level of the gap at 83.52, which also overlaps with the weekly PP level. However, the currency pair is driven by expectations and tomorrow will be announced the final decision on a further Japan monetary easing programme, which may lift the price to a 85.00 level or even 85.74 or push down to 82.73, where the weekly S1 intersects with the 20-day SMA.

Traders' Sentiment
Disproportion in USD/JPY pair slightly changes, as the buy side reached 74% and the sell side 26%. Pending orders segment remains strongly bullish, as 87% of orders are buy and only 13% are sell.

© Dukascopy Bank SA
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