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USD/JPY keeps surprising

© Dukascopy Bank SA
"The outlook for this pair (USD/JPY) is neutral even though a move to the major support at 119.20 will not be surprising."
- UOB Group (based on FX Street)

Pair's Outlook
The US Dollar keeps surprising with its performance. The US currency slid for another day, amid US Existing Home Sales growing at a slower-than-expected rate. However, the losses were not severe, as USD/JPY declined only 9 pips. For Tuesday the technical studies remain mixed, so unless the US CPI disappoints, the Greenback should edge up. Closest resistance retains its position around 120.30.

Traders' Sentiment
Trader's attitude towards the Buck slightly deteriorated, but still 59% of all participants are long the Dollar. At the same time, the share of buy orders increased by 23 percentage points, and now they account for 62% of the market.

© Dukascopy Bank SA


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