Dukascopy_Analyst

USD/JPY sets eye on a new high

FX:USDJPY   U.S. Dollar/Japanese Yen
20 0 0
"It looks like a big bet on the Fed finally putting its money where its mouth is. It looks as though the Fed will indeed kick off its tightening cycle in December, providing a stark contrast to other major central banks and thus providing durable support for the dollar."
- Westpac Banking Corp             . (based on Bloomberg)

Pair's Outlook
Due to Japan falling back into recession, the USD/JPY             currency pair managed to breach the immediate resistance and close trade near the 11-week high. Today the Greenback is likely to extend yesterday's rally and possibly even establish a new 13-week high, but in order to do so, the given pair first requires to pierce the cluster in form of the weekly R1 and monthly R2 around 123.40. A fresh 13-week high is also expected to set the Buck on a path of reaching the 2015 high, unless the immediate resistance pushes the USD/JPY             back under 123.00.

Traders' Sentiment
Bearish market sentiment returned to last Tuesday's level of 73%, while the sell orders are outnumbering the buy ones by 2% points.
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
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 Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out