USD/JPY fails to pierce 124; 123 in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The US dollar remains within a consolidation phase in the near-term which may continue until the Fed moves closer to raising rates, which is likely to provide a trigger for a further strengthening of the US dollar."
- Bank of Tokyo-Mitsubishi UFJ (based on WBP Online)

Pair's Outlook

On Wednesday, the US Dollar remained relatively unchanged against the Japanese Yen. However, the edged closer to the 124.50 level during the trading hours, which was supposed to provide resistance. Nevertheless, the Greenback is likely to decline today and possibly retreat to the 122.50 level, which prevented the pair from falling in several occasions. If the US fundamentals provide much worse-than-expected data, the USD/JPY might even reach a strong support cluster around 122. 

Traders' Sentiment

Bullish market sentiment remains unchanged at 62%, whereas the share of buy orders inched up from 60 to 65%. 

© 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.