Dukascopy - Analytics

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    USD/JPY erases yesterday's gain

    © Dukascopy Bank SA
    "If there is any change in the price trend, we won't hesitate to adjust policy."
    - Haruhiko Kuroda, Bank of Japan Governor (based on Reuters)

    Pair's Outlook
    Looking at the hourly chart, the pair rebounded at first, improving the situation after yesterday's evening downward movement. However, resistance was met at the weekly PP, which forced the pair to fall and penetrate the 20-hour SMA. Closest support now is represented by the 200-hour and 100-hour SMAs around 118.90.

    Traders' Sentiment
    The distribution between the long and short positions in the SWFX marketplace is changed by merely one percentage point, 59% and 41%, respectively. At the same time, there are more orders to buy the Buck, accounting for 61% of the market.

    © Dukascopy Bank SA

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