© Dukascopy
"[Japanese] exports will likely continue to fall for the next few months"
- Norinchukin Research Institute (Reuters)
Industry outlook
Levels at 76.22 and 75.94 are expected to provide sufficient support for USD/JPY to surge up to such marks as 79.56 and 80.37, 55 week ma. The initial resistances will be met at 77.29 and at 78.07 as well.
Traders' sentiment
Most of market participants, being 57.35%, in USD/JPY have preferred to acquire the greenback against the Japanese Yen, while 42.65% of traders believe the Asian currency will appreciate relative to the American Dollar.
Long position opened
Leading market participants, who have entered USD/JPY market with a buy trade, are expecting to close their positions at the key resistances at 77.11, 77.30 and 77.75.
Short position opened
Bearish market players will pay attention to a near-term support at 76.65. The downtrend continuation will establish following targets for traders: S2 at 76.38 and S3 at 75.93.
© Dukascopy