© Dukascopy Bank SA
"There was better-than-expected data in the U.S. The focus is still on the euro zone"
- Mizuho Corporate Bank Ltd. (based on Bloomberg)
Pair's Outlook
USD/JPY is rapidly heading towards a cluster of supports at 79.36/12, which is expected to halt the pair and preserve bullish outlook. In case bearish momentum persists, current dip may extend down to 78.36/16 or even 77.63/54. The closest resistance may be found at 79.64, while subsequent levels lie at 79.99/80.03 and at 80.46/74.
Traders' Sentiment
Despite contraction of the gap between the amounts of long and short positions opened on USD/JPY, the overall sentiment of SWFX marketplace liquidity consumers stays bullish. At the moment 72% of traders are long and 27% of them are short on the currency pair. The similar situation is observed with orders, as 74% of them are to acquire the Greenback and only 26% of them are to sell it.
© Dukascopy Bank SA