USD/JPY Analysis: Tests 55-day SMA at 111.72
|"USD/JPY—slightly bearish. We expect the pair may move towards 110.80."
– Fullerton Markets (based on Investing.com)
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Pair's Outlook
This trading week has started with the US Dollar appreciating slightly against the Yen. The closest upper limit is set by the 55-day SMA at 111.72. The given resistance was strong enough not to pass the pair through in the previous two sessions; thus, a breakout might be regarded as a bullish sign, leading the Greenback towards the 20-day SMA at 112.37. Today, it might be expected that the pair remains confined within the bounds of the 55-day SMA and the monthly PP. However, it is yet to be seen if the close occurs in the red or green area. -
Traders' sentiment
Traders have not changed their bearish outlook in this trading session, as 57% of open positions are short. However, 59% of set up orders are to buy the US Dollar.
Interested in USDJPY technicals? Check out the key levels
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