Dukascopy_Analyst

USD/JPY muted in anticipation of Payrolls data

FX:USDJPY   U.S. Dollar/Japanese Yen
10 0 1
"The recent weak ISM data clearly illustrated the negative impact of the dollar's appreciation. The US stock market may continue to be fragile, which is likely to discourage USD/JPY             buying."
- MUFG (based on FXStreet)

Pair's Outlook
The US Dollar's losses slightly exceeded expectations, as the pair stabilised at 122.59, rather than in front of the weekly PP at 122.74. Nevertheless, the USD/JPY             is now facing a rather strong support cluster around 122.30, represented by the monthly PP, the weekly S1 and the Bollinger band . The pair's exchange rate still has a 20-pip space to edge down, or even breach the immediate support cluster in case the Payrolls data disappoints too much; but the base case scenario is a rally towards the 20-day SMA and a possible retest of the weekly R1 at 123.22.

Traders' Sentiment
Bearish market sentiment remains unchanged at 71%, whereas the number of purchase orders slightly dropped, from 68 to 65%.
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out