USD/JPY underpinned by long-term up-trend

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Geopolitical issues in different parts of the world are going much further than anyone expected."
- CitiFX (based on Reuters)


Pair's Outlook

As turned out, USD/JPY required assistance of the major rising trend-line at 101.53 in order to preserve chances to rally. And even though on the daily and monthly time-frames the currency pair is supposed to be moving North, it fails to start a recovery and finally gain a foothold above the 200-day SMA. This would supposedly give the U.S. Dollar confidence to surpass the recent highs at 103 and then challenge the 2014 Q2 high at 101.42.

Traders' Sentiment

Nearly three fourths (73%) of the market participants are expecting the U.S. Dollar to outperform the Japanese Yen in the future. There is also a large portion of buy orders set 100 pips around the spot price—61%.
© Dukascopy Bank SA

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