USD/JPY plummets to 102

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The burning question on everyone's mind today is whether dollar-yen will continue to head lower."
- BK Asset Management (based on CNBC)


Pair's Outlook

Stabilisation of USD/JPY near 102.72/66, as was expected yesterday, did not turn out to be the case. Instead, the exchange rate fell more than 100 pips and found support only near the 38.2% retracement of the November-December rally. But the key demand area is lower, around the level of 101, where the 50% retracement merges with the 200-day SMA, and until it is violated the outlook will stay bullish.

Traders' Sentiment

Despite a precipitous decline in USD/JPY, the distribution between the long and short positions is exactly the same as 24 hours ago, when 71% of traders expected the U.S. Dollar to outperform the Japanese Yen. Meanwhile, the share of buy orders declined, from 74% down to 69%.
© 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.