USD/JPY faltered at 78.71/76

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Fed Chairman Ben Bernanke may refrain from hinting at another round of quantitative easing as the economy gets on a more sustainable path"
- DailyFX.com (based on MarketWatch)

Pair's Outlook

Confrontation with a resistance level at 78.71/76 resulted in another pronounced leg down, which may extend to 78.13/77.93. The support is also reinforced by 77.52/34 and therefore should be able to withstand bearish pressure and restore positive bias towards the pair. However, it may take some time, since technical indicators give mixed signals at the moment.

Traders' Sentiment
USD/JPY is overbought to a considerable extent, as 70% of traders expect the Dollar to appreciate and only 30% of them wait for the Yen to increase in price, despite the latter being the least frequently acquired in SWFX marketplace. Allocation between buy and sell orders also supports bullish outlook, being 69% to 31%, respectively.

© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (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.