The Euro is trading flat against the Japanese yen; 95.81 in focus

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"By steadily proceeding with asset purchases ... the BOJ will continue with powerful monetary easing. "
- Yoshihisa Morimoto, BoJ board member (based on Reuters)

Pair's Outlook

The pair remains resilient after Mario Draghi's press conference as the EUR/JPY currency pairs is currently trading in a price range of 95.80/96.20. If the pair moves higher, 96.35 (200-day SMA) is likely to be an initial resistance line for bullish investors, a breakout of which would expose 98.23 (55-day SMA) and 99.39 (PP Monthly), respectively.

Traders' Sentiment
According to the SWFX Sentiment Index, at the moment bulls are favoring the Euro-Japanese Yen currency pair as the largest number of positions (71%) is long. Regarding order disposition, 63% of investors expect the currency couple to continue moving in the bullish trend.
© Dukascopy Bank SA
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Actual Topics

Thu, 02 Aug 2012 15:39:27 GMT

AUD/USD is moving to 1.0406, attempts to reiterate a bullish trend

The currency pair laid back a bit, approaching the first initial support level at 1.0406 (38.20% Fibo), though bulls try to establish an upward trend. If this is the case, investors might encounter the second and third resistance levels at 1.0581 (R1 Monthly) and 1.0704 (R3 Monthly) as bullish momentum strengthens.

Thu, 02 Aug 2012 18:12:55 GMT

GBP/JPY slowly approaching 20-day SMA

Bearish tendency, which lasted for the lastthree days was stopped today, and now a bullish reaction takes place. If the movement upwards proceeds, then GBP/JPY might reach a 20-day SMA at 122.700, which might prove to be a strong resistance for the current rally. If it fails to reverse trend back to bearish, then next resistance at 122.900 (Monthly PP) might give some bearish impetus.

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