Dukascopy Bank Team
Dukascopy Bank SA
"We don't expect any dollar downside risks on the back of any disappointments with respect to Trump."
– Credit Agricole (based on Business Recorder)
-
Pair's Outlook
Thursday ended with the US Dollar outperforming the Yen, therefore, leaving the 111.00 handle intact. The situation barely changed from yesterday, meaning that the USD/JPY pair still has sufficient room for another leg up, as the nearest resistance rests only circa 112.10. At the same time, the weekly R3 is unable to provide strong support, with the nearest significant demand area being only around 110.15. According to technical indicators, the exchange rate is unlikely to change significantly today. -
Traders' Sentiment
Bulls are now barely outnumbering the bears, as 51% of all open positions are long, compared to 55% previously. The number of orders to buy the Greenback returned to its Wednesday's level. The purchase orders now take up 57% of the market (yesterday 53%).
Interested in USD/JPY technicals? Check out the key levels
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
AUD/USD: Extra gains in the pipeline above 0.6520
AUD/USD partially reversed Tuesday’s strong pullback and regained the 0.6500 barrier and beyond in response to the sharp post-FOMC pullback in the Greenback on Wednesday.
EUR/USD meets support around 1.0650
EUR/USD managed to surpass the key 1.0700 barrier in response to the intense retracement in the US Dollar in the wake of the Fed’s interest rate decision and Chair Powell’s press conference.
Gold surpasses $2,300 as Dollar tumbles
The precious metal maintains its constructive stance and trespasses the $2,300 region on Wednesday after the Federal Reserve left its FFTR intact, matching market expectations.
Bitcoin price reclaims $59K as Fed leaves rates unchanged
The market was at the edge of its seat on Wednesday to see whether the US Federal Reserve (Fed) would cut interest rates during the Federal Open Market Committee (FOMC) meeting.
The market welcomes the Fed's statement
The market has welcomed the Fed statement, and the S&P 500 is higher in its aftermath, the dollar is lower and Treasury yields are falling. There is still only one cut priced in by the Fed.