Dukascopy_Analyst

USD/JPY weakens after BoJ leaves policy unchanged

FX:USDJPY   U.S. Dollar/Japanese Yen
22 0 0
"If we are right, the Bank will probably respond by stepping up the pace of easing. The end-January meeting is the most likely venue to announce this."
- Capital Economics (based on WBP Online)

Pair's Outlook
The USD/JPY             appreciated only 18 pips on Wednesday, piercing the nearest resistance, which is now forming a support cluster along with the weekly R1. However, the US Dollar             got oversold today, leading the exchange rate close to the 123.00 major level, partially triggered by the BoJ's decision to leave stimulus unchanged. The given pair is now under substantial pressure, which could lead to a decline today. The immediate demand area might still limit the losses, while technical indicators are no longer giving bullish signals, suggesting a drop of the USD price is likely.

Traders' Sentiment
A total of 70% of all open positions are short today, compared to 75% yesterday. The share of buy orders edged up from 47 to 51%.
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