EUR/JPY stopped at 102.60

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It may take a while before the BOJ will actually do something. Still, market players are speculating about more easing and you have to consider which side of position you should take under such conditions."
-Sumitomo Mitsui Trust Bank (based on Reuters)
 
Pair's Outlook
Pair is continuing its rally after bouncing from major (psychological level) at 100 and is moving to form what seems to be a double top. Lower levels were not hard task, but as pair approaches resistance levels above 102.5 it seems that we will see a loss in momentum and few choppy sessions would not be a surprise as well. Current stop at 200 day SMA/weekly R2 at 1.0206 might be start of one of such sessions.

Traders' Sentiment
Bearish SWFX sentiment of the pair became stronger today as amount of open short positions on the pair reached 60% mark. However, in complete opposite to yesterday, 59% of pending order's on the pair are to buy suggesting a stronger support in higher levels.

© Dukascopy Bank SA
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Actual Topics

Thu, 04 Oct 2012 14:33:43 GMT

AUD/USD rejected by 1.02

Pair continues do depreciate after forming double top pattern. Although it was posing to breach pattern's support at 1.0160 fairly easily, 1.02 proved to be more difficult task as pair was rejected from breaching this level twice already. Such turn of events strengthens prediction, given by Stochastic indicator, that pair might pick up again. 

Thu, 04 Oct 2012 15:29:46 GMT

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