© Dukascopy Bank
"For the BOJ, it's not a question of whether it will add to monetary easing, but a question of when and how it will"
- Sumitomo Mitsui Banking Corp. (based on Bloomberg)
Industry outlook
USD/JPY seems to be terminating bearish correction, however, possibility of a drop down to 80.11 may not be excluded yet. In order to confirm emergence of an uptrend, the pair needs to climb above 82.00/42 first.
Traders' sentiment
Traders' sentiment is static regarding USD/JPY currency couple. 71% of market participants remains bullish on the pair and 29% of them stay bearish on it.
Long position opened
Largest brokers set a new long position target as a break of 81.10 is an encouraging bullish sign en route to 81.31. If the uptrend remains, the third target for intraday trading will be 81.50.
Short position opened
Key support for USD/JPY intraday trading is situated at 80.70. In case S1 is penetrated, traders with short positions are likely put their T/P orders at 80.51 and 80.30.
© Dukascopy Bank