Dukascopy - Analytics

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    USD/JPY rebounds after weekend's loss

    © Dukascopy Bank SA
    "These are somewhat disappointing figures. The situation remains weak and companies are clearly postponing investments."
    - Norinchukin Research Institute (based on Reuters)

    Pair's Outlook
    The USD/JPY cross is on the bullish path, with insignificant fluctuations on the way. Overall, the movements are following an uptrend pattern, as the Greenback keeps strengthening. The pair has already penetrated all of the closest resistance levels, whereas the nearest is now higher, represented by the weekly PP and the 100-day SMA.

    Traders' Sentiment
    The distribution between the long and short positions in the SWFX marketplace skewed in favour of the former, with 62% of positions now being long. At the same time, there are more orders to buy the Buck, accounting for 67% of the market.

    © Dukascopy Bank SA

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