© Dukascopy Bank
"It is imperative [for the Fed] to undertake action now"
- Charles Evans (based on Reuters)
пЃ® Industry outlook
As long as USD/JPY is supported by 77.65/29 from below, the outlook is positive for the pair. The primary target is situated at 78.80, although 80.23 should be breached in order to maintain growth.
пЃ® Traders' sentiment
USD/JPY currency couple is back to being bullish. Most of FX market players (52.21%) anticipate the pair to move upwards, whereas the rest (47.79%) presume that the price will diminish.
пЃ® Long position opened
The break of the short-term resistance line 78.05 would pave the way for the pair to rise up to 78.29. The clearance of the second daily resistance level would establish a new target for traders at 78.47.
пЃ® Short position opened
In case of dips, another rally may start after rebounding from the initial support level at 77.63. However, assuming that the bearish momentum does not weaken, investors will pay attention to the lower support levels at 77.45 and 77.21.
© Dukascopy Bank