© Dukascopy Bank SA
- Lee Wai Tuck, Forecast Pte (based on Bloomberg)
Pair's Outlook
USD/JPY pair's downside movement is bounded by the 200-day SMA. Despite the fact that the price has broken through this level a few times in the last days, the price still came back and closed around it. Therefore, the 200-day SMA level is really important and settlement below it would mean a sharp price drop. Further support levels remain at 79.10 and 78.84.
Traders' Sentiment
SWFX market players' sentiments do not change for USD/JPY pair and remains strongly bullish, as 72% have a buy position and 28% have a short position. Pending orders segment also support very bullish sentiments for a further price movement, as 83% are orders for buy and 17% for sell.
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