FX:USDJPY   U.S. Dollar / Japanese Yen
68 3 2
"With the Fed reaffirming its caution in hiking rates, we expect a more gradual recovery of the USDJPY             pair."
- UBS             (based on Reuters)

Pair's Outlook
As was anticipated, the USD/JPY             currency pair recovered from its intraday low on Friday, but was unable to post significant gains, due to the Bollinger band providing sufficient resistance. However, the Bollinger band acts as the immediate support today, providing the Greenback with a chance to begin its recover against the Japanese Yen             . The nearest resistance to limit the gains rests at 112.11, namely the weekly PP. According to technical indicators, the US Dollar             is to remain relatively flat for another day, thus, neither significant level is likely to be broken today.

Traders' Sentiment
Market sentiment remains strongly bullish , taking up 70% of the market, compared to 71% on Friday. The number of orders to sell the Buck is completely unchanged at 65%.
Thanks for your analysis! You mind heading me in the direction to find Market sentiment percentages?
We are happy to hear you enjoyed our analysis! You will find the info about Market sentiment percentages on our website: https://www.dukascopy.com/swiss/english/marketwatch/sentiment/
It can also be found here: https://www.dukascopy.com/swiss/english/marketwatch/swfx/ (Choose the “Sentiment” tab)
TradZ Dukascopy_Analyst
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