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- Kiyohiko Nishimura, BoJ Deputy Governor (based on Reuters)
Industry outlook
USD/JPY continues to accelerate its bullish momentum. The next target is located at 78.40 ahead of 79.00. Though at first the initial resistance at 78.05 should be overcome. From below the pair is supported by a strong line at 77.50.
Traders' sentiment
The portion of long positions in USD/JPY market continues to diminish. At the moment 45.04% of traders anticipate the American Dollar to surge, while the larger part (54.96%) of FX players consider more the idea of the Yen appreciating.
Long position opened
Traders are advised to pay close attention to the identified resistance levels for the pair at 78.29, 78.61 and 79.28.
Short position opened
A part of the brokers will close their short positions near initial support level at 77.63. In case of downtrend continuation, the pair might rebound from the S2 at 77.29 or S3 at 76.63.
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