USD/JPY surprises to the upside

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Next week the market will be more event-driven, with the FOMC and the Bank of Japan, so the downside should be limited."
- Global-info Co (based on CNBC)


Pair's Outlook

USD/JPY overshot our expectations by a wide margin by effortlessly piercing through the resistance at 108. And while the weekly technical studies are mostly giving ‘buy' signals, the pair must confirm the new support to confirm its longer-term bullish intentions. Alternatively, if the monthly pivot point and 23.6% Fibo are unable to stop the sell-off, the price may slide back to the 55-day SMA, which is currently residing at 107.

Traders' Sentiment

As a result of a sudden jump in the price of the Dollar many of the market participants decided to enter short positions, the portion of which went up from 55 to 61%. But in the meantime, the percentage of the buy commands increased from 59 to 63%.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
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.